Akbayan Party-List Rep. Perci Cendaña has this to say about the Middle East war.
The Philippines is suffering from a broader economic crisis brought on by the Middle East war, as per Akbayan Party-List Rep. Perci Cendaña.
Opposition lawmaker Akbayan Party-List Rep. Perci Cendaña issued a warning regarding the conflict in the Middle East. According to him, this has brought broader issues and crises in the country. It is no longer an energy issue, but it triggered a broader economic crisis that could cause a significant impact.
Cendaña, representative of the Akbayan Party-list, the effects of the war extend beyond rising oil prices. Among the indicators that the country is facing deeper economic challenges are disruption in global supply chains, inflationary pressures, and weakening purchasing power.
“Alam naman natin this is not an energy crisis. This is an actual economic crisis kasi lalo nalulunod sa taas presyo ang ating mga kababayan,” Cendaña said, adding that the government has been slow in terms of distributing aid to the people.
He stated that the House must deliberate on the proposed supplemental budget to ensure that funds can be released at the earliest possible time. He called on the government to implement stronger and more comprehensive measures to cushion the effects on ordinary Filipinos.
What has been happening is not limited to fuel increase alone. Transportation costs, food prices, and basic commodities have also been affected. This has added to the daily burden and strain on Filipino households.
Chel Diokno of the Akbayan Party-list earlier urged the president to certify as urgent House Bill 8495, which seeks a ₱52.8-billion supplemental budget.
Under the proposed measure, ₱12 billion would be allocated for fuel subsidies to assist public utility vehicle (PUV) drivers and transport workers, while ₱38 billion would be set aside to support overseas Filipino workers (OFWs) affected by the crisis.
To recall, President Ferdinand “Bongbong” Marcos Jr. signed the bill seeking to suspend the collection of excise taxes on fuel products amid the war. However, he will not immediately exercise this power.
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