Press Release - Bong Go calls for intensified government action amid projected lingering high inflation through 2025; urges increased support for vulnerable sectors
Senator Christopher "Bong" Go has urged various government agencies to amplify and accelerate their interventions for the most affected sectors of society as the country grapples with the economic challenges posed by high inflation rates.
This call to action comes in the wake of a recent and concerning study conducted by the Bangko Sentral ng Pilipinas (BSP) indicating that high inflation is expected to persist until 2025.
"Sa mga panahon pong ito na marami tayong kinakaharap na economic issues, kabilang na ang inflation, kailangan nating magkaisa at kumilos agad para sa kapakanan ng ating mga kababayan, lalo na iyong mga pinaka-nangangailangan ng tulong at atensyon ng gobyerno," said Go.
Based on the September survey by BSP's external forecasters, independent financial analysts have increased their inflation predictions to 3.7 percent for the year 2024 and 3.5 percent for 2025.
Additionally, the economists have revised their estimates for the current year's inflation to 5.9 percent, which significantly exceeds the central bank's desired inflation range of two to four percent.
The study emphasized that disruptions in supply chains, both within the country and internationally, are accelerating the price increases of essential goods and services.
"In light of these alarming figures, it is imperative for our government agencies to act swiftly and efficiently. The Filipino people are relying on government support to ease their burdens," said Go.
Go is specifically urging the Department of Social Welfare and Development (DSWD), the Department of Trade and Industry (DTI), and the Department of Labor and Employment (DOLE) to enhance their efforts in providing aid and support to Filipinos who are struggling to make ends meet.
"The situation calls for a multi-agency approach. We need to pool our resources and expertise to address this crisis effectively," Go emphasized.
"Nandiyan naman po ang pondo at mga programa ng gobyerno para matulungan at maayudahan ang mga mahihirap. Huwag maging selective. Ibigay po ang tulong na nararapat sa lahat ng nangangailangan at siguraduhing hindi masasayang ang mga pondo na dapat makabenepisyo sa taumbayan," he added.
The senator also