Monday, February 18, 2019

Ralph Recto to Duterte: Don’t blame Trump on inflaton

Sep 13, 2018 @ 17:10

Senate President Pro Tempore Ralph Recto said President Rodrigo Duterte should not blame United States President Donald Trump for the increase in inflation in the country.

The Batangas politiko said the rise in inflation is largely caused by the Duterte administration’s economic policies.

“World events, external factors are a given. That’s always the case. We must anticipate,” Recto said.

“In any situation there are both opportunities and threats. A big part of our inflation problem is self-inflicted. They are internal,” he added.

Recto said the depreciation of the peso is a major factor in the increase in the prices of goods.

He also said the government can no longer afford to subsidize agriculture production.

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