THE 16-month low 3 percent inflation in April proved the competence of President Rodrigo Duterte in managing the economy, Malacañang said Tuesday.
Presidential Spokesperson Salvador Panelo issued the statement as he touted the President’s political will in implementing his economic policies.
“Palace is happy to learn about the slowing down of inflation to 3%” despite the El Nino phenomenon “where food production gets affected and may jack up prices,” said Panelo.
“We give credit to the President’s strong political will and decisive action in addressing this national issue. We are confident that inflation would continue to ease by the end of the year especially now that President Rodrigo Roa Duterte has already signed Republic Act No. 11203,” Panelo said in a statement.
He was referring to the Rice Tarrification Law, which economic managers said would temper inflation, bring down retail prices of rice in the market and ensure food security in the country.
“The current disinflation proves PRRD’s competence in managing our country’s economy while it disproves those who criticize him for over-focusing on our nation’s peace and order situation,” Panelo said.
Panelo said “the government, through the President’s economic managers, has been constantly monitoring the prices of basic goods and commodities and will not relax its efforts but will press ahead with programs designed to assist each and every Filipino with their expenses.”