Amid the 6.1 percent inflation rate reported for the month of June, President Ferdinand Marcos Jr. believes the country has "done all right" in terms of monetary policy.
The President made the pronouncement in an interview aired on All TV, where he also blamed the "imported inflation" to be the cause of inflation now being suffered in the Philippines.
"Doon sa pinanggalingan nya, tumaas ang presyo ng natural gas, tumaas ang presyo ng ammonia (From where they came from, gas prices, ammonia prices already increased). All of the elements that go into it...naisama mo na 'yung inflation nya eh. Ganon na ang mundo ngayon eh (inflation has been priced in. That's how the world works now)," he said.
The President also reasoned that there is an imported inflation because the world is "very interconnected."
"You cannot deal anymore without talking to other countries, trading with other countries, getting supply from other countries," he said.
Those were the same reasons why the President, in fact, does not "want to recover economy to what it was in 2019," but instead "to transform the economy to get ready for the shocks, the difficulties" of the future.
"So we just have to pay close attention to what's happening around us and what we do in response," he added.