PRESIDENT Ferdinand R. Marcos Jr. on Wednesday said there is no need to ask Congress for special powers to address inflation, saying his administration has initiated interventions to mitigate its debilitating effects.
The President made this remark in a chance interview with reporters after the launch of Halina’t Magtanim ng Prutas At Gulay, Kadiwa’y Yaman, Plants for Bountiful Barangays Movement (Hapag Kay PBBM) at the Rizal Park in the City of Manila.
“I do not think that it is necessary to ask for special powers. If we declare, for example, if we can declare… I have already the power to declare an emergency and to control the prices of commodities. So I don’t think there is any need for more than that, that is sufficient,” the President explained.
President Marcos earlier expressed optimism that the inflation rate will eventually go down with the drop in the prices of fuel prices and imported agricultural products despite the inflation increasing further at 8.7 percent in January 2023.
The government has stepped up efforts to cushion the impact of inflation, according to the President, who cited as an example the launch of urban agriculture initiatives that seek to improve sustainable food practices at the barangay level.
“The other elements of inflation hindi natin masyadong ma-control, kaya mayroon tayong ginagawang ganito para makabawi naman doon sa pagtaas ng presyo,” the President pointed out.
The National Economic and Development Authority (NEDA) has said the administration has identified measures to keep food price movements consistent with the government’s inflation and food security objectives, with higher agricultural productivity, food supply augmentation and energy security seen as priorities to temper upward price pressures.
