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Manila Bulletin devider Business devider NEDA boosts gov't, university collaboration on inflation policies

NEDA boosts gov't, university collaboration on inflation policies

Published Oct 26, 2023 05:17 am

At A Glance

  • The National Economic and Development Authority (NEDA) encourages academic institutions and government agencies' collaboration in creating technologies that acquire data on crops to help establish inflation policies.<br>During an event, participants from government agencies and universities shared the use of satellite images, drones, and artificial intelligence to generate agricultural data.<br>NEDA, which chairs the Inter-agency Committee on Inflation and Market Outlook, has been exploring the use of satellite-based technologies to inform inflation management policy as it can deliver data quickly.<br>The IAC-IMO formulates and recommends policies to bring inflation back on target and manage it more effectively.

Academic institutions and government agencies should collaborate in creating technologies that acquire data on crops to help establish inflation policies, the National Economic and Development Authority (NEDA) said.

“The various technologies we discussed have significant potential to enhance our understanding, management, and policy-making for the agricultural sector,” NEDA Assistant Secretary Reynaldo R. Cancio said during a conference

Participants from government agencies and universities shared the use of satellite images, drones, and artificial intelligence to generate agricultural data, such as crop planting areas expected crop yields, and flood risk areas.  

This information, NEDA said, can be used in monitoring the supply situation and outlook on agriculture.

NEDA, which chairs the Inter-agency Committee on Inflation and Market Outlook (IAC-IMO), has been exploring the use of satellite-based technologies to inform inflation management policy as it can deliver data quickly.

The IAC-IMO is tasked with formulating and recommending policies to bring inflation back on target and manage it more effectively.

Recommendations from this inter-agency committee are elevated to the Economic Development Group for further discussions and endorsement to the president.

Meanwhile, another series of forums with technology developers is envisioned to develop a harmonized and streamlined arsenal of remote-sensing technologies.  

“We look forward to working together with all of you so that we can have a stronger and more advanced agricultural sector – a better Philippines where our fellow countrymen can enjoy a matatag, maginhawa, at panatag na buhay,” Cancio said.

Earlier, multiple study visits were initiated by NEDA to explore technologies that can conduct rice and crop data through satellite images.
 

Related Tags

satellite-based technology National Economic and Development Authority (NEDA) crop yields agriculture Artificial Intelligence satellite images
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