GOVERNMENT WORKING ON MEASURES TO MITIGATE IMPACT OF CONTINUED PESO DEPRECIATION — PALACE

PRESIDENT Ferdinand R. Marcos Jr.’s administration remains focused on addressing the economic implications of the continued depreciation of the Philippine peso against the US dollar, particularly its impact on Filipino consumers and vulnerable sectors.

During a Palace press briefing on Thursday, Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro cited several challenges, including the ongoing crisis in the Middle East, the effects of El Niño and domestic political developments.

“Sa ngayon, patuloy ang krisis sa Middle East. Ito’y ipagdarasal natin na sana ay matapos na. Nakakaapekto po talaga ito sa ekonomiya ng bansa,” Castro said.

The Palace Press Officer noted concerns over the effects of El Niño, particularly on farmers and fisherfolk in areas already experiencing prolonged dry conditions.

Castro assured the public that President Marcos and his administration are closely monitoring developments and working on appropriate measures to alleviate the economic burden on Filipinos.

“Pero ang Pangulo at ang administrasyon ay nakatutok po rito para mas magawan ng paraan at the same time para mapag-aralan pa ang mga epekto para sa ating mga kababayan at kung ano pa ang pwedeng gawin ng ating administrasyon para iyong nadaranas ng ating mga kababayan ay ma-lessen o ma-mitigate ang hirap ng ating mga kababayan,” she said.

Castro added that the administration’s immediate priority is to assess the effects of the currency’s depreciation and identify appropriate responses to help ease the financial difficulties facing Filipino households.