NEDA says gov’t successful in keeping inflation rate within target range for 2024

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00:00The National Economic and Development Authority, or NEDA, says the government was successful in keeping the nation's inflation rate within the target range for 2024.

00:10NEDA explains the inflation rate last year is much lower than the 6% recorded in 2023.

00:17Secretary Arsenio Balisacan disclosed, despite the challenges in 2024,

00:22government's effort to tame inflation were largely successful and the government eyes to continue such momentum this year.

00:31Also, the Marcos administrator for 15 years, he shares that life at sea is no easy task, facing tough work conditions while being away from family and his home country.

00:43We, the ship's workers, when there are problems in the ship, we really need to fix it until it's fixed.

00:50Sometimes, it really passes because of the operations.

00:54When it's Christmas, New Year, when the Philippines is happy, you will remember that it's really hard to be away during those times.

01:04Arvin is just one of the estimated 600,000 Filipinos relying on the maritime industry for their livelihood.

01:13To ensure the rights and welfare of Filipino seafarers, President Ferdinand R. Marcos, Jr. witnessed the signing of the Implementing Rules and Regulations of the Magna Carta of Filipino Seafarers.

01:26The measure aims to secure seafarers' rights at sea.

01:29We are behind you, serving you, so that your security, dignity, and rights will be protected.

01:38The law also ensures the repatriation of seafarers in case of illness, accident, or contra-completion.

01:45Seafarers must be members of the SSS, PhilHealth, and Pag-IBIG to receive insurance, housing, and retirement benefits.

01:54Families of seafarers will be granted counseling, financial support, legal assistance, and other forms of aid.

02:02The Magna Carta also promotes quality of training to enhance the career growth of seafarers, including women, in the industry.

02:10This act not only opens opportunities for the industry, it also reflects our dedication to a more progressive and fairer approach to the maritime industry.

02:27To address their needs, the government will establish a one-stop shop for seafarers.

02:33President Marcos, Jr. also directed government agencies to ensure full implementation of the law.

02:40This is just the beginning of a stronger and brighter future for our Filipino seafarers and their families.

02:50Together, let us build a new Philippines where every seafarer has a secure and reliable future.

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