President Ferdinand Marcos Jr. expressed his doubts on Thursday, December 8, that the Philippine will experience recession due to the rising inflation.
President Marcos pointed out that the unemployment rate dropped to 4.5 percent in October even though the inflation rate rose to eight percent last November.
"Kaya’t kahit papaano ay malakas ang loob natin na hindi tayo magkakaroon ng recession dito sa Pilipinas dahil masyadong mababa ang unemployment rate," the Chief Executive said in a video message to reporters.
"Kung maaalala ninyo sa pagsimula namin dito sa administrasyong ito ay pinag-usapan na namin ay trabaho talaga ang aming uunahin. Kaya’t ‘yan ang nakikita ngayon natin na nangyayari. Ipagpatuloy lang natin ‘yan," he added.
President Marcos assured the public that the government will seek ways to slow down the rising prices of goods and services.
"Asahan ninyo na lahat ng paraaan na maari nating gawin ay gagawin natin para pababain ang inflation rate at gawing mas mabagal man lang ang pagtaas ang presyo ng kung anu-anong mga bilihin," the President vowed.
The Philippine Statistics Authority mentioned that eight percent inflation rate registered by the country last month is the highest recorded since November 2008.
