NEDA chief: No talks on inflation aid for poor, gov't workers

The distribution of inflation assistance to poor families and government workers has not been discussed in the executive branch, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Tuesday.

Balisacan made the remarks a day after Senate President Juan Miguel Zubiri said Senate employees are set to receive a one-time P50,000 financial aid amid the record-high inflation, according to Ivan Mayrina’s report on “24 Oras”.

However, the NEDA chief said the government would prioritize indigent families if such assistance is implemented.

“‘Yung very poor and vulnerable groups, ‘yun ang talagang pagbuhusan natin ng assistance. Hindi feasible na lahat naman ay pare-pareho yung treatment as you know our fiscal space is very, very limited,” he said.

(We will prioritize poor and vulnerable groups if this will be implemented. It is not feasible to provide the assistance to everyone because our fiscal space is very, very limited.)

The Philippines recorded 8.7% inflation or the rate of increase in the prices of goods and services in January 2023, the fastest in 14 years.

Balisacan said the NEDA is expecting inflation to gradually ease as the harvest season starts.

To address the high inflation rate, the administration of President Ferdinand “Bongbong” Marcos Jr. is eyeing to lure in more investments and create more jobs.

Balisacan said the ratification of the Regional Comprehensive Economic Partnership (RCEP) will help in opening more investment opportunities in the country as he refuted claims the mega trade deal will hurt the local agriculture sector.

“There's no truth to that… Yung mga problema ngayon ng agriculture has nothing to do with RCEP. (Our problems in the agriculture sector have nothing to do with RCEP.) The problems were outcomes of past neglect of the sector. By ratifying RCEP, the country will be even more forced to pay attention to agriculture because only then can you fully maximize the benefits that RCEP can give to us,” he added.

Meanwhile, Marcos led a meeting of the National Innovation Council — a  25-member body tasked to develop the country’s innovation goals, priorities, and long-term national strategy. The President sits as its chairperson while the NEDA chief serves as vice chairperson.—Sundy Locus/LDF, GMA Integrated News