Rising inflation experts advise fg

You're referring to the recent rising inflation concerns in the Philippines and the advice given by experts to the government.

Rising inflation has been a concern in the Philippines in recent months, driven by various factors such as the impact of the COVID-19 pandemic, supply chain disruptions, and global commodity price shocks. As a result, the Bangko Sentral ng Pilipinas (BSP), the country's central bank, has been closely monitoring inflation and has taken steps to address it.

Experts have advised the government to take a multi-faceted approach to address rising inflation, including:

  1. Monetary policy adjustments: The BSP has been advised to raise interest rates to curb inflationary pressures and stabilize the economy.
  2. Fiscal discipline: The government has been advised to maintain fiscal discipline and reduce its budget deficit to prevent further inflationary pressures.
  3. Supply-side interventions: The government has been advised to implement supply-side interventions, such as increasing agricultural production and improving logistics, to address supply chain disruptions and reduce prices.
  4. Price controls: Some experts have advised the government to implement price controls on essential goods and services to protect consumers from price hikes.
  5. Social protection programs: The government has been advised to strengthen social protection programs to help vulnerable sectors of the population, such as the poor and the elderly, who are disproportionately affected by inflation.

Some of the experts who have advised the government on rising inflation include:

  1. BSP Governor Benjamin Diokno: Diokno has advised the government to maintain a tight monetary policy to curb inflationary pressures.
  2. Economic managers: The country's economic managers, including Finance Secretary Carlos Dominguez III and Budget Secretary Wendel Avisado, have advised the government to maintain fiscal discipline and reduce its budget deficit.
  3. Economists: Economists such as Dr. Cielito Habito, a former National Economic and Development Authority (NEDA) director-general, have advised the government to implement supply-side interventions and strengthen social protection programs to address rising inflation.

Overall, the government has been advised to take a comprehensive approach to address rising inflation, including monetary policy adjustments, fiscal discipline, supply-side interventions, price controls, and social protection programs.