SONA 2024 PROMISE TRACKER: Economy
Halfway through his term, President Ferdinand Marcos Jr.’s administration has yet to hit all of its economic targets but he remains “optimistic” about the country’s “sustained resilience” despite global pressures.
Tag Archives: inflation
Paolo Benigno “Bam” Aquino IV
Bam Aquino seeks to return to the Senate, presenting himself as a candidate for the people with platforms focusing on inflation and education.
VERA FILES FACT CHECK: Marcos’ report on decreasing food prices in SONA is misleading
PSA said food inflation has slowed down to 6.7% in June 2023 from 7.5% in the previous month. However, it is still higher than the 6.4% recorded food inflation in June 2022.
SONA 2022 PROMISE TRACKER: ECONOMY
One year into office, President Ferdinand Marcos Jr. is yet to deliver “substantial” progress on his promises to improve the Philippine economic situation. But the administration’s economic managers stay optimistic that the country “remains firmly on track” toward post-pandemic recovery.
VERA FILES FACT CHECK: Salceda’s remark that Philippines has ‘one of the lowest’ inflation rates in the world lacks context
Compared to other Southeast Asian countries, the Philippines' inflation is the sixth highest recorded in 2022. Economic experts say that even if the Philippine economy posted growth, inflation grew faster since December.
VERA FILES FACT CHECK: Pahayag ni Salceda na ang Pilipinas ay may ‘isa sa pinakamababang’ inflation rate sa mundo kulang nang konteksto
Ipinahayag kamakailan ni Albay Rep. Joey Salceda na ang inflation rate ng Pilipinas ay "isa sa pinakamababa pa rin sa mundo," at sinabing ito ay malamang na "bunga ng diskarte" ng economic managers ng bansa. Ito ay nangangailangan ng konteksto.
VERA FILES FACT CHECK: Pahayag ni Marcos na ‘nangunguna’ ang PH sa pagbangon ng ekonomiya sa Asia-Pacific, mundo HINDI TOTOO
Sa kanyang arrival statement sa Maynila mula sa Davos, Switzerland noong Enero 21, sinabi ni Pangulong Ferdinand Marcos Jr. na ang Pilipinas ay “nangunguna [sa] economic recovery” hindi lamang sa rehiyon ng Asia-Pacific kundi maging sa mundo. Ito ay hindi totoo.
VERA FILES FACT CHECK: Marcos wrongly states that PH is ‘leading’ in economic recovery in Asia-Pacific, world
According to the World Bank, indicators of economic recovery include a rebounding GDP, decreasing unemployment rate and stabilizing inflation rate. The Philippines does not lead the Asia-Pacific region in any of these indicators.
Tougher times ahead
What can ordinary Filipinos do to manage the effects of inflation? We have to further tighten our belts and avoid overspending.
VERA FILES FACT CHECK: FAKE Sandro Marcos quote on use of onions still circulating online
A quote card where Ilocos Norte 1st District Rep. Sandro Marcos asked people to use a more inexpensive type of onion is fake.
