Marcos to agencies: Prioritize food, fuel, electricity
Philippine President Ferdinand Marcos Jr. has directed government agencies to prioritize the supply of food, fuel, and electricity to combat rising inflation. The administration is implementing various subsidies and programs to assist vulnerable sectors affected by global economic instability and local weather-related disasters.
Why it matters
Rising inflation and supply chain disruptions directly impact the cost of living and economic stability for millions of Filipinos.
SINGAPORE - President Marcos is zeroing in on efforts to ensure enough food, fuel and electricity supply after inflation soared to 7.2 percent last month due to the Middle East conflict and recent disasters, Malaca ang said.
Palace press officer Claire Castro said Marcos met with Executive Secretary Ralph Recto yesterday to discuss ways to ease the impact of rising prices.
"We are preparing for this. We cannot deny the effect of the ongoing crisis in the Middle East and the calamities that entered the Philippines. Even the political noise is affecting our economy," Castro said.
"The President is now focusing on food, fuel and electricity. The directive of the President is to ensure that the Philippines will not run out of fuel supply. If the supply of fuel is disrupted, businesses would be disrupted and it would have a bigger effect on our economy," she added.
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