From the Website of PIA
links: http://www.pia.gov.ph/news/index.php?article=1781339148707
Government closely watching inflation rate, says Palace
Friday 10th of October 2014
MANILA,
Oct. 10 -- The Palace on Thursday assured that the government's
economic team and the central bank are closely monitoring the country's
inflation rate to control its impact on the people.
Presidential
Communications Operations Office Secretary Herminio Coloma, Jr. said
such economic issues as inflation, poverty, and job creation are
gut-level issues that make the people look to the government for help.
"Sikmura
kasi talaga ‘yan kaya siguro nandoon na rin ang aspeto ng higher
expectations among our people, how they wish government can really be
more effective," Coloma told reporters during a press briefing.
"Pero
doon sa aspect na ‘yan, maipupunto natin na talaga namang tinututukan
ito ng ating economic management team at maging ng Bangko Sentral ng
Pilipinas."
He noted that although the government has been able
to reduce the inflation rate from a high of 4.9 percent to 4.4 percent,
the central bank is still keeping track of inflation.
The Bangko
Sentral ng Pilipinas, he said, is the lead agency in tackling
inflation, having all the tools of monetary policy to regulate inflation
as well as the total liquidity in the banking system and other
indicators.
"Sila ay nasa posisyon para tuwirang masabat ‘yung
threats of inflation at pinagtutulungan naman iyan ng ating economic
management team at ng Bangko Sentral," he added.
On the people's
purchasing power, Coloma said the main goal of the government is to
maintain a manageable inflation rate to avoid the erosion of the
consumers' purchasing power.
To address this concern, the
government is monitoring and regulating the prices of commodities
through the National Price Coordination Council, he said, adding that
the government wants to ensure a reasonable movement of prices of basic
commodities for the benefit of the consumers.
Coloma said that
with regards to salary adjustments, the government is carrying out a
performance-based incentive program to augment the compensation of
government employees who are performing well.
He however said
that it is up to private companies to share their gains with their
employees, especially when these companies post higher profits under
better economic conditions. (PCOO/PND (as) - See more at:
http://news.pia.gov.ph/index.php?article=1781412845112#sthash.kGydtAqm.dpuf
PIA Website
http://www.pia.gov.ph/news/index.php
links:
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