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New PH dev’t plan to address economic scarring, inflation: NEDA

Measures to address the impact of the pandemic and the elevated inflation rate have been outlined in the recently-approved Philippine Development Plan (PDP) 2023-28, a ranking National Economic and Development Authority (NEDA) executive said.

In a Laging Handa briefing Thursday, NEDA Undersecretary Rosemarie Edillon said pending the implementation of the PDP, the government has implemented several programs to alleviate the impact of the pandemic and the higher inflation rate on Filipinos’ lives.

She said these programs include the extension of the validity of Executive Order (EO) 171, which temporarily modified tariff rates for several items such as fish, chilled or frozen pork, rice, corn and coal to address supply constraints and the elevated prices.

She said the government also extended fuel subsidies to the transport sector stakeholders as well as to farmers and fisherfolk.

The elevated prices of imported products were traced partly to the impact of the ongoing Russia-Ukraine conflict as well as weather-related factors, which, in turn, have resulted in the jump of prices of several commodities in the domestic market.

Edillon said extension of the validity of EO 171 helps address higher prices of feeds, which is needed as the country repopulates the swine industry that was badly hit by the African swine fever.

She explained that addressing these issues and helping the agriculture sector, among others, are among the goal of the PDP 2023-28, which, she said, will be available on the NEDA website, www.neda.gov.ph, before the year ends.*PNA

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