Runaway inflation due to bungled policies by economic managers – SPARK

Harry Roque. Image © Presidential Communications Operations Office

PRESIDENTIAL Spokesperson Harry Roque’s recent remarks concerning the 6.4% inflation rate reveals his utter disconnect from the vast majority of Filipinos, the Samahan ng Progresibong Kabataan said in a statement.

Roque’s claim that “inflation is under control” runs contrary to what is being experienced by Juan Dela Cruz as the cost of all common goods and services have increased due to the failed economic policies of this foul mouthed administration, the progressive youth organization said.

Furthermore, the youth organization insists that President Rodrigo Duterte’s pet legislation, the Tax Reform for Acceleration and Inclusion (TRAIN) Law, is the reason why there is an avalanche of price hikes in the market.

Serving as TRAIN 1’s backdrop is the state’s long-standing policy of liberalization which led to the current runaway inflation, the student group observed.

It also noted that the skewed importation of rice and galunggong are signs that the government has abandoned the livelihoods of hundreds of thousands of farm workers, peasants and fisherfolks.

“TRAIN Law merely exacerbates the fundamental contradictions brought about by the economic managers’ overzealous pursuit of an export-oriented, import-dependent economy, based on the designs of the World Trade Organization,” the SPARK said.

Nevertheless, despite the spike in the prices of basic commodities, Duterte and Roque, in an earlier statement, said that anything short of the 50% inflation rate experienced during the Marcos’s dictatorship is not a crisis and that the issue is only strong because of the coming elections.

 

BD Admin: You think your friends gonna like this piece? If you do, kindly share it. Thanks.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.