President Ferdinand 'Bongbong' Marcos Jr. has issued an executive order (EO) to directly address inflation and enhance initiatives to improve the economy and the quality of life of Filipinos. ManilaBulletin READ:
The Inter-Agency Committee on Inflation and Market Outlook will serve as an advisory body on measures that would keep inflation, particularly of food and energy, within the government's inflation targets.
"In view of the increasing prices of key commodities, particularly food and energy resources, the creation of an advisory body to the EDC, tasked to directly address inflation, will strengthen the EDC and reinforce existing government initiatives aimed to improve the economy and the quality of life of the Filipino people," the EO read.
The advisory body is tasked to closely monitor the main drivers of inflation, particularly food and energy, and their proximate sources and causes. It shall also assess the supply-demand situation for essential food commodities during the cropping period, allowing periodic updating as new information becomes available.
Under the EO, the IAC-IMO must submit a report to the EDG of the country's food and energy supply and demand situation and outlook every quarter or as the circumstances may require.
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