Fred M. Lobo
By Fred Lobo
President Duterte and his Economic Team have started looking into the recent spike in consumer prices and other current economic issues.
No to high prices or inflation and other economic woes, they agreed
Likewise, DU30 Boys said they will launch a massive information campaign on federalism once the Consultative Committee (Con-Com) finalizes its recommendations on proposed Constitutional amendments.
A matter of promotion and fine-tuning, they claimed.
The Department of Finance (DOF) said the President asked for a briefing on inflation apparently because the rate of increase in consumer prices has exceeded government’s target.
Translation: Check before it worsens
The Philippine Statistics Authority (PSA) reported that consumer prices rose 4.5 percent year-on-year in April, the fastest pace in over five years.
April figure brought inflation rate averaged to 4.1 percent in the first four months, breaching the government’s 2.0 percent 4.0 percent target range, it added.
Finance Secretary Carlos G. Dominguez III, who heads the Duterte administration’s economic team, said that inflation and other economic issues will be discussed with the President.
Time to hold the bull by the horn.
“I decided to start the practice of having the economic team brief the president formally every trimester on economic issues,” Dominguez said.
The President will also be briefed about the gross domestic product (GDP) Performance, trade issues, opportunities, risks, poverty rates, government finances, among others, he added.
Duterte had earlier admitted that economics make him “dizzy” so he was deliberately delegating the handling of the economy, one of Asia’s fastest growing, to his economic team composed of Dominguez, Socioeconomic Planning Secretary Ernerto M. Pernia, and Budget Secretary Benjamin E. Diokno, with
Bangko SentralngPilipinas Governor Nestor A. Espenilla Jr. asresource person.
Perform well my boys, DU30 ordered.
Meanwhile, the Department of Interior and Local Government (DILG) said it will try to draw strong support for a shift to a federal form of government once the final version is completed by the commission headed by former Supreme Court Chief Justice Reynato Puno.
“We are prepared to explain to the people why the time for change is now,” the DILG said, dismissing as premature the recent Pulse Asia survey showing that 66 percentare against a shift in the form of government.
DILG Assistant Sec. Jonathan Malaya said: “We noted that 27 percent said they are in favor while 30 percent are open to it in the future, hence 57 percent are actually infavor but differ only in timing.”
Public support for Pres. Duterte’s campaign agenda will snowball oncea “Federalism Roadshow” is launched, Malaya said.
“We have to reserve judgement until after the Puno Commission finishes its work, only then can we have a good debate on the actual merits of federalism,” the DILG spokesman said.
Okay, show the finished product soon and let the people render final judgement.