DOF Sec. Recto, ikinabahala ang lagay ng inflation rate ng bansa sa mga susunod na buwan

Transcript

00:00 The Agriculture Department has been instructed by the Finance Department to adjust the country's inflation rate.

00:09 This is Sujin Kim.

00:11 Finance Secretary Ralph Recto is in charge of the inflation for the coming months.

00:19 Secretary Recto has instructed the Agriculture Department to adjust the food inflation rate.

00:27 Inflation is still the biggest worry. We expect that there will be a breach. That's always been expected.

00:33 The official added that even though inflation is still in the forecast range, he still expects the inflation rate to be 2%.

00:42 The Banco Central of the Philippines, or BSP, expects that the inflation for the month of April will be in the 3.5 to 4.3 range.

00:51 This is also a sign of a spike in the price of rice, meat, gasoline, and the dollar-peso exchange.

01:00 According to the BSP, this could be balanced by a continuous decrease in the price of fish, fruits, vegetables, electricity, and LPG.

01:09 The BSP is still monitoring the changes in inflation.

01:14 If the inflation rate drops, the gross domestic product or GDP of the country will increase.

01:21 Finance Secretary Ralph Recto is also hoping that the first quarter GDP rate in the country will reach 5.8 to 6.3.

01:29 Our target is 6, right? At least 6. I think more or less 6. Anything higher than 5.5 is a win.

01:38 If it reaches 6.0, the Philippines will be among the countries with the highest GDP in the region.

01:45 Recto will also meet with the Bureau of Internal Revenue or BIR regarding the collection of the agency.

01:52 But he insists that he's happy with the success of the BIR in reaching their target.

01:57 So far they're doing pretty good. That means if you follow the growth rate, there's no need to borrow more.

02:05 So far we're hitting the target.

02:08 Sujan Kim for Pambansang TV in Bagong, Philippines.

02:12 [MUSIC PLAYING]