A lawmaker has appealed to government agencies in charge of “ayuda” (aid) to disburse most of the funds before the election spending ban that will come with the Barangay and SK Elections in October this year.
A lawmaker has appealed to government agencies in charge of “ayuda” to disburse most of the funds before the election spending ban that will come with the Barangay and SK Elections in October this year.
“The latest, newly-released inflation figures confirm what we feared a few months ago: that inflation for the whole year is much higher than the forecast for 2022 and that yearend inflation would be quite high. Annualized inflation shot up to 5.8 percent and December inflation rose to 8.1, according to the Philippine Statistics Authority,” she said in a statement during the weekend.
On the domestic front, the BSP trade restrictions, increased prices of fruits and vegetables due to weather disturbances, higher sugar prices, pending petitions for transport fare hikes, as well as potential wage adjustments in 2023 could push inflation upwards.MEANWHILE, the impact of a weaker-than-expected global economic recovery continues to be the primary downside risk to the outlook, the BSP added.
“The 2023 budget has billions for ayuda and other forms of assistance for poor and low income families. Releasing these funds will cushion the impact of inflation not just for the poor and low income families, but also for the small businesses they work for and interact with,” she added.
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