According to Press Secretary Jesus G. Dureza, the regress in inflation in the Philippines is due to the good foundation that strengthened the Arroyo Administration, thus resulting to a sturdy economy.
He confidently adds, that the country will be able to escape the financial crisis that has affected the world.
From the double digit rate in the past month, Socio-Economic Planning Secreatry Ralp G. Recto recounts to President Gloria Macapagal-Arroyo that the ratre inflation rate is now at 8% compared to last month’s inflation rate which was 9.3%.
This is good news despite OPEC’s opinion that this is due to the regress of oil price in international markets resulting to minimal oil production.
Kini nga maayong balita bisan pa sa gipadayag sa OPEC nga pagpadyutay sa produksyon sa lana dala sa pagkunhod sa presyo sa lana sa international palit. (rachiu/PIA)
