With headwinds taking a heavy toll on Filipinos, especially the poor, think tank Ibon Foundation said the government should prioritize immediate and substantial aid, wage…
Terming the Union Budget 2023-24 as “disappointing”, they said it was not addressing the real sentiment of the country..
The increase was attributed to bird flu outbreaks detected all over the nation, as well rising feed costs and electricity bills.
The inflationary trend was driven by a double-digit increase in almost all sub-indices, especially food and transport, prices of which have rapidly increased.
Seoul is also working to increase fares for other modes of public transit, such as subways and buses, later this year.
In the last full budget ahead of elections in 2024, when Prime Minister Narendra Modi will seek a third term in power, the government unveiled plans to increase infrastructure…
If subsidies continue to grow exponentially, the government may be forced to reallocate funds or resources from other economic activities or turn to borrowing funds.
The government should strengthen support steps to deal with shock from higher utility bills.
The economy’s current recovery is mainly attributed to rising domestic demand and a revival in investment.
The rapid expansion signals that prospects for economic recovery are improving, thanks optimized Covid containment measures, among others.