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Monday, 18 September 2023

Economic team nods price control on rice

The economic team of the administration of President Ferdinand R. Marcos Jr. is in favor of the recent imposition of price control on rice through the issuance of Executive Order No. 39.

๐˜›๐˜ฉ๐˜ช๐˜ด ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ฆ๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ๐˜ญ๐˜บ ๐˜ด๐˜ฆ๐˜ณ๐˜ท๐˜ฆ ๐˜ข๐˜ด ๐˜ข๐˜ฏ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ ๐˜ด๐˜ต๐˜ฐ๐˜ฑ ๐˜จ๐˜ข๐˜ฑ๐˜ต๐˜ฐ ๐˜ข๐˜ฅ๐˜ฅ๐˜ณ๐˜ฆ๐˜ด๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต๐˜ด ๐˜ค๐˜ถ๐˜ณ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ค๐˜ช๐˜ณ๐˜ค๐˜ถ๐˜ฎ๐˜ด๐˜ต๐˜ข๐˜ฏ๐˜ค๐˜ฆ๐˜ด. ๐˜Š๐˜ฐ๐˜ฏ๐˜ฅ๐˜ช๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด ๐˜ต๐˜ณ๐˜ถ๐˜ญ๐˜บ ๐˜ธ๐˜ข๐˜ณ๐˜ณ๐˜ข๐˜ฏ๐˜ต ๐˜ข ๐˜ด๐˜ฑ๐˜ฆ๐˜ค๐˜ช๐˜ข๐˜ญ ๐˜ฎ๐˜ช๐˜ต๐˜ช๐˜จ๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ฎ๐˜ฆ๐˜ข๐˜ด๐˜ถ๐˜ณ๐˜ฆ,” Secretary Pangandaman said.

๐˜๐˜ฏ ๐˜ข๐˜ฏ ๐˜ช๐˜ฅ๐˜ฆ๐˜ข๐˜ญ ๐˜ด๐˜ค๐˜ฆ๐˜ฏ๐˜ข๐˜ณ๐˜ช๐˜ฐ, ๐˜ธ๐˜ฆ ๐˜ค๐˜ข๐˜ฏ ๐˜ญ๐˜ฆ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต ๐˜ฅ๐˜ช๐˜ค๐˜ต๐˜ข๐˜ต๐˜ฆ ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ๐˜ด. ๐˜๐˜ฐ๐˜ธ๐˜ฆ๐˜ท๐˜ฆ๐˜ณ, ๐˜ข๐˜ด ๐˜•๐˜Œ๐˜‹๐˜ˆ ๐˜ฏ๐˜ฐ๐˜ต๐˜ฆ๐˜ฅ, ๐˜ธ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฏ๐˜ฐ๐˜ธ ๐˜ง๐˜ข๐˜ค๐˜ฆ๐˜ฅ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ฆ๐˜น๐˜ต๐˜ณ๐˜ข๐˜ฐ๐˜ณ๐˜ฅ๐˜ช๐˜ฏ๐˜ข๐˜ณ๐˜บ ๐˜ง๐˜ข๐˜ค๐˜ต๐˜ฐ๐˜ณ๐˜ด ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ธ๐˜ฆ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ต๐˜ฐ ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ช๐˜ฅ๐˜ฆ๐˜ณ," Pangandaman explained.

The Budget Secretary likewise reiterated the unified stand of the economic team on the price ceiling, saying that it is indeed a necessary albeit temporary measure to help vulnerable and disadvantaged sectors amidst high prices of rice.

"
๐˜ ๐˜ซ๐˜ฐ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜Š๐˜ฉ๐˜ข๐˜ช๐˜ณ๐˜ฎ๐˜ข๐˜ฏ ๐˜ข๐˜ฏ๐˜ฅ ๐˜Š๐˜ฐ-๐˜Š๐˜ฉ๐˜ข๐˜ช๐˜ณ๐˜ฎ๐˜ข๐˜ฏ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜Œ๐˜ค๐˜ฐ๐˜ฏ๐˜ฐ๐˜ฎ๐˜ช๐˜ค ๐˜‹๐˜ฆ๐˜ท๐˜ฆ๐˜ญ๐˜ฐ๐˜ฑ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต ๐˜Ž๐˜ณ๐˜ฐ๐˜ถ๐˜ฑ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜Š๐˜ข๐˜ฃ๐˜ช๐˜ฏ๐˜ฆ๐˜ต ๐˜ช๐˜ฏ ๐˜ด๐˜ถ๐˜ฑ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฎ๐˜ฆ๐˜ข๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ช๐˜ต ๐˜ช๐˜ด ๐˜ฏ๐˜ฆ๐˜ค๐˜ฆ๐˜ด๐˜ด๐˜ข๐˜ณ๐˜บ ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ต๐˜ช๐˜ฎ๐˜ฆ ๐˜ต๐˜ฐ ๐˜ฉ๐˜ฆ๐˜ญ๐˜ฑ ๐˜ต๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ข๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ฆ๐˜ฅ ๐˜ฃ๐˜บ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ธ๐˜ช๐˜ด๐˜ฆ ๐˜ถ๐˜ฏ๐˜ค๐˜ฐ๐˜ฏ๐˜ต๐˜ณ๐˜ฐ๐˜ญ๐˜ญ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ด๐˜ฉ๐˜ข๐˜ณ๐˜ฑ ๐˜ช๐˜ฏ๐˜ค๐˜ณ๐˜ฆ๐˜ข๐˜ด๐˜ฆ ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ ๐˜ฐ๐˜ง ๐˜ณ๐˜ช๐˜ค๐˜ฆ," Sec. Pangandaman said.

The Cabinet's Economic Development Group is led by Department of Finance Secretary Benjamin Diokno as Chairman, and National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan as co-chairperson.

The Budget Secretary further enumerated certain conditions that entail some form of regulated price caps:

1.
๐™€๐™ข๐™š๐™ง๐™œ๐™š๐™ฃ๐™˜๐™ฎ ๐™จ๐™ž๐™ฉ๐™ช๐™–๐™ฉ๐™ž๐™ค๐™ฃ๐™จ: During natural disasters or other emergencies (such as El Niรฑo and typhoons), price ceilings can help prevent price gouging and ensure that essential supplies like food, water and medical supplies remain affordable and accessible to everyone.

2.
๐™๐™š๐™ข๐™ฅ๐™ค๐™ง๐™–๐™ง๐™ฎ ๐™ข๐™š๐™–๐™จ๐™ช๐™ง๐™š๐™จ ๐™ฉ๐™ค ๐™–๐™™๐™™๐™ง๐™š๐™จ๐™จ ๐™ข๐™–๐™ง๐™ ๐™š๐™ฉ ๐™™๐™ž๐™จ๐™ง๐™ช๐™ฅ๐™ฉ๐™ž๐™ค๐™ฃ๐™จ:Price ceilings might be viewed more favorably when applied as a temporary measure to address short-term market disruptions (such as hoarding) to provide relief to consumers until the situation stabilizes.

3.
๐™๐™–๐™ง๐™œ๐™š๐™ฉ๐™ž๐™ฃ๐™œ ๐™˜๐™š๐™ง๐™ฉ๐™–๐™ž๐™ฃ ๐™จ๐™š๐™˜๐™ฉ๐™ค๐™ง๐™จ ๐™ฉ๐™ค ๐™˜๐™ค๐™ง๐™ง๐™š๐™˜๐™ฉ ๐™ข๐™–๐™ง๐™ ๐™š๐™ฉ ๐™›๐™–๐™ž๐™ก๐™ช๐™ง๐™š๐™จ: When markets fail to provide essential goods to certain segments of the population, such as the poor or vulnerable, price ceilings can be seen as a corrective measure to ensure these individuals have access to basic necessities.

The issuance of EO No. 39 is in line with the comprehensive approach being implemented by the government to mitigate the concerns of rice retailers and farmers, and to ensure that the rice supply remains sufficient at lower prices and greater competition can sooner be promoted in the rice industry.

๐˜ž๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ๐˜ด๐˜ต๐˜ข๐˜ฏ๐˜ฅ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ถ๐˜ญ๐˜ญ๐˜บ ๐˜ด๐˜ถ๐˜ฑ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฅ๐˜ฆ๐˜ค๐˜ช๐˜ด๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜—๐˜ณ๐˜ฆ๐˜ด๐˜ช๐˜ฅ๐˜ฆ๐˜ฏ๐˜ต ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต ๐˜ฑ๐˜ญ๐˜ข๐˜บ๐˜ฆ๐˜ณ๐˜ด ๐˜ธ๐˜ฉ๐˜ฐ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฎ๐˜ช๐˜ด๐˜ฃ๐˜ฆ๐˜ฉ๐˜ข๐˜ท๐˜ช๐˜ฏ๐˜จ. ๐˜œ๐˜ฏ๐˜ง๐˜ฐ๐˜ณ๐˜ต๐˜ถ๐˜ฏ๐˜ข๐˜ต๐˜ฆ๐˜ญ๐˜บ, ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฉ๐˜ฐ๐˜ข๐˜ณ๐˜ฅ๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ด๐˜ฑ๐˜ฆ๐˜ค๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜ด. ๐˜ž๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ฆ๐˜ฅ๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ข๐˜ค๐˜ต ๐˜ง๐˜ข๐˜ด๐˜ต ๐˜ต๐˜ฐ ๐˜ฆ๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ๐˜ญ๐˜บ ๐˜ข๐˜ฅ๐˜ฅ๐˜ณ๐˜ฆ๐˜ด๐˜ด ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฃ๐˜ญ๐˜ฆ๐˜ฎ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ข ๐˜ต๐˜ช๐˜ต-๐˜ง๐˜ฐ๐˜ณ-๐˜ต๐˜ข๐˜ต ๐˜ด๐˜ต๐˜ณ๐˜ข๐˜ต๐˜ฆ๐˜จ๐˜บ ๐˜ข๐˜จ๐˜ข๐˜ช๐˜ฏ๐˜ด๐˜ต ๐˜ถ๐˜ฏ๐˜ด๐˜ค๐˜ณ๐˜ถ๐˜ฑ๐˜ถ๐˜ญ๐˜ฐ๐˜ถ๐˜ด ๐˜ต๐˜ณ๐˜ข๐˜ฅ๐˜ฆ๐˜ณ๐˜ด, ๐˜ข๐˜ต ๐˜ญ๐˜ฆ๐˜ข๐˜ด๐˜ต ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ข๐˜ณ-๐˜ต๐˜ฆ๐˜ณ๐˜ฎ,” Pangandaman said.

It has been noted that in addition to intensified market monitoring, supply-side support, such as possible conduct of government-to-government transactions in imports, the proposed adjustments in import tariffs; quality control checks; and support to vulnerable groups form part of the government's comprehensive strategy to ensure that markets serve the best interest of the consumers and small farmers and retailers.

๐˜ˆ๐˜ด ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜š๐˜ฆ๐˜ค๐˜ณ๐˜ฆ๐˜ต๐˜ข๐˜ณ๐˜บ ๐˜‰๐˜ฆ๐˜ฏ ๐˜‹๐˜ช๐˜ฐ๐˜ฌ๐˜ฏ๐˜ฐ ๐˜ด๐˜ข๐˜ช๐˜ฅ, ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ด๐˜ฆ๐˜ณ๐˜ท๐˜ฆ ๐˜ข๐˜ด ๐˜ข๐˜ฏ ๐˜ฆ๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ ๐˜ฎ๐˜ฆ๐˜ข๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ข๐˜จ๐˜ข๐˜ช๐˜ฏ๐˜ด๐˜ต ๐˜ฏ๐˜ฐ๐˜ฏ-๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ฆ๐˜ต๐˜ช๐˜ต๐˜ช๐˜ท๐˜ฆ ๐˜ฑ๐˜ณ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ค๐˜ฆ๐˜ด ๐˜ฃ๐˜บ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต ๐˜ฑ๐˜ญ๐˜ข๐˜บ๐˜ฆ๐˜ณ๐˜ด. ๐˜ž๐˜ฆ ๐˜ซ๐˜ถ๐˜ด๐˜ต ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ต๐˜ฐ ๐˜ค๐˜ข๐˜ณ๐˜ฆ๐˜ง๐˜ถ๐˜ญ๐˜ญ๐˜บ ๐˜ค๐˜ข๐˜ญ๐˜ช๐˜ฃ๐˜ณ๐˜ข๐˜ต๐˜ฆ, ๐˜ช๐˜ฎ๐˜ฑ๐˜ญ๐˜ฆ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ช๐˜ต๐˜ฐ๐˜ณ ๐˜ช๐˜ต,” Pangandaman added.

Finance Secretary Ben Diokno earlier said that the  Inter-agency Committee on Inflation and Market Outlook (IAC-IMO) remains on top of monitoring the developments in food and non-food inflation. It will also closely monitor the implementation of EO 39 to help ensure that the short-term measure will be effective.

The country’s headline inflation rate rose to 5.3 percent in August 2023 from the 4.7 percent recorded in the previous month. This brings the year-to-date inflation rate to 6.6 percent, higher than the Development Budget Coordination Committee (DBCC) assumption of 5.0 to 6.0 percent for full year 2023.

๐˜›๐˜ฉ๐˜ฆ e๐˜ค๐˜ฐ๐˜ฏ๐˜ฐ๐˜ฎ๐˜ช๐˜ค t๐˜ฆ๐˜ข๐˜ฎ ๐˜ณ๐˜ฆ๐˜ฎ๐˜ข๐˜ช๐˜ฏ๐˜ด ๐˜ณ๐˜ฆ๐˜ด๐˜ฐ๐˜ญ๐˜ถ๐˜ต๐˜ฆ ๐˜ช๐˜ฏ ๐˜ช๐˜ต๐˜ด ๐˜ค๐˜ฐ๐˜ฎ๐˜ฎ๐˜ช๐˜ต๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต ๐˜ต๐˜ฐ ๐˜ฎ๐˜ช๐˜ต๐˜ช๐˜จ๐˜ข๐˜ต๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ช๐˜ฎ๐˜ฑ๐˜ข๐˜ค๐˜ต ๐˜ฐ๐˜ง ๐˜ช๐˜ฏ๐˜ง๐˜ญ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฉ๐˜ฆ๐˜ญ๐˜ฑ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ต๐˜ฆ๐˜ค๐˜ต ๐˜ฐ๐˜ถ๐˜ณ ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ถ๐˜ฎ๐˜ฆ๐˜ณ๐˜ด, ๐˜ณ๐˜ฆ๐˜ต๐˜ข๐˜ช๐˜ญ๐˜ฆ๐˜ณ๐˜ด, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ข๐˜ณ๐˜ฎ๐˜ฆ๐˜ณ๐˜ด,” Pangandaman said.

๐˜ž๐˜ฆ ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ฑ๐˜ถ๐˜ต ๐˜ฑ๐˜ณ๐˜ช๐˜ฎ๐˜ฆ ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜ต๐˜ฐ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ต๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ฐ๐˜ถ๐˜ณ ๐˜ท๐˜ถ๐˜ญ๐˜ฏ๐˜ฆ๐˜ณ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ด๐˜ฆ๐˜ค๐˜ต๐˜ฐ๐˜ณ๐˜ด. ๐˜ž๐˜ฆ ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ฉ๐˜ฆ๐˜ญ๐˜ฑ ๐˜ฆ๐˜ฏ๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ข๐˜ด๐˜ต ๐˜ช๐˜ฎ๐˜ฑ๐˜ญ๐˜ฆ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜จ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ๐˜ฏ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด ๐˜ต๐˜ข๐˜ณ๐˜จ๐˜ฆ๐˜ต๐˜ฆ๐˜ฅ ๐˜ค๐˜ข๐˜ด๐˜ฉ ๐˜ต๐˜ณ๐˜ข๐˜ฏ๐˜ด๐˜ง๐˜ฆ๐˜ณ (๐˜›๐˜Š๐˜›) ๐˜ฑ๐˜ณ๐˜ฐ๐˜จ๐˜ณ๐˜ข๐˜ฎ, ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ถ๐˜ฆ๐˜ญ ๐˜ด๐˜ถ๐˜ฃ๐˜ด๐˜ช๐˜ฅ๐˜บ ๐˜ฑ๐˜ณ๐˜ฐ๐˜จ๐˜ณ๐˜ข๐˜ฎ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฒ๐˜ถ๐˜ข๐˜ญ๐˜ช๐˜ง๐˜ช๐˜ฆ๐˜ฅ ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ๐˜ฆ๐˜ณ๐˜ด ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ต๐˜ณ๐˜ข๐˜ฏ๐˜ด๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ด๐˜ฆ๐˜ค๐˜ต๐˜ฐ๐˜ณ, ๐˜ด๐˜ถ๐˜ฃ๐˜ด๐˜ช๐˜ฅ๐˜ช๐˜ฆ๐˜ด ๐˜ต๐˜ฐ ๐˜ณ๐˜ฆ๐˜จ๐˜ช๐˜ด๐˜ต๐˜ฆ๐˜ณ๐˜ฆ๐˜ฅ ๐˜ด๐˜ฎ๐˜ข๐˜ญ๐˜ญ ๐˜ณ๐˜ช๐˜ค๐˜ฆ ๐˜ณ๐˜ฆ๐˜ต๐˜ข๐˜ช๐˜ญ๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ด ๐˜ธ๐˜ฆ๐˜ญ๐˜ญ ๐˜ข๐˜ด ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜จ๐˜ณ๐˜ข๐˜ฎ๐˜ด ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ฉ๐˜ฆ๐˜ญ๐˜ฑ ๐˜ข๐˜ช๐˜ฅ ๐˜ฐ๐˜ถ๐˜ณ ๐˜ฌ๐˜ข๐˜ฃ๐˜ข๐˜ฃ๐˜ข๐˜บ๐˜ข๐˜ฏ๐˜ด ๐˜ช๐˜ฏ ๐˜ฏ๐˜ฆ๐˜ฆ๐˜ฅ. ๐˜›๐˜ฉ๐˜ฆ ๐˜ณ๐˜ฐ๐˜ญ๐˜ญ-๐˜ฐ๐˜ถ๐˜ต ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ถ๐˜ฆ๐˜ญ ๐˜ฅ๐˜ช๐˜ด๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต ๐˜ฑ๐˜ณ๐˜ฐ๐˜จ๐˜ณ๐˜ข๐˜ฎ ๐˜ง๐˜ฐ๐˜ณ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜จ๐˜ณ๐˜ช๐˜ค๐˜ถ๐˜ญ๐˜ต๐˜ถ๐˜ณ๐˜ฆ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ช๐˜ด๐˜ฉ๐˜ฆ๐˜ณ๐˜ช๐˜ฆ๐˜ด ๐˜ด๐˜ฆ๐˜ค๐˜ต๐˜ฐ๐˜ณ ๐˜ด๐˜ฉ๐˜ข๐˜ญ๐˜ญ ๐˜ข๐˜ญ๐˜ด๐˜ฐ ๐˜ฃ๐˜ฆ ๐˜ฆ๐˜น๐˜ฑ๐˜ฆ๐˜ฅ๐˜ช๐˜ต๐˜ฆ๐˜ฅ,” Pangandaman emphasized.

By sector, the biggest budget allocation in the proposed Fiscal Year 2024 national expenditure program was provided to the Social Services Sector, amounting to P2.183 trillion (37.9 percent), and the Economic Services Sector amounting to P1.709 trillion (29.6 percent). The prioritization of the Social and Economic Services Sectors demonstrates the government’s resolve to reduce poverty, foster infrastructure and human capital development, and steer the country back on a higher growth trajectory. In the end, such high economic growth will be accompanied by improvements in agricultural productivity and greater food security over the long term. (DBM/PIA-Caraga)