Speaker Romualdez: House working with President’s economic team to control increase in consumer prices

THE House of Representatives is working with the Marcos administration’s economic team on measures aimed at controlling inflation, which represents the increase in the cost of goods and services, Speaker Ferdinand Martin G Romualdez said Tuesday.

He made the statement in the course of a briefing given by members of the Development Budget Coordination Committee (DBCC) on the impact of inflation on national government programs, activities and projects.

“Of course, one of the pressing issues (facing the economy and the nation) is the inflation rate. This is a global phenomenon. But again, hearing from you (today) would be a very, very good thing for us to prioritize. Again, I reiterate the Congress’ willingness to work hand-in-hand, to be marching in lockstep with the executive in pursuing the solutions to the economic challenges that the country faces,” Speaker Romualdez said.

President Ferdinand Marcos Jr. has predicted that inflation would soon go down.

“That’s what I lose sleep every night over – how to bring down inflation,” the President said.

Speaker Romualdez said he had actually asked the House appropriations committee to hold an oversight hearing “to see how Congress and the economic managers can work together, pursuing our President’s whole of government approach to addressing problems of our economy.”

“We are here together to see how we can work hand-in-hand and we’d like to very much hear from our economic managers how we can engage and make sure that our functions here in the Congress would become more meaningful, more responsive to the needs of the Filipino people,” he said.

“This is our mission, thus is the order of our President, Ferdinand R. Marcos Jr., to make sure that the lives of Filipino people are much better, that they be more comfortable, safer,” he said.

The House leader thanked DBCC members Secretaries Benjamin Diokno of finance and Amenah Pangandaman of budget, Bangko Sentral ng Pilipinas Gov. Felipe Medalla, and National Economic and Development Authority Director General Arsenio Balisacan for briefing House members.

He also thanked appropriations committee chairman Ako Bicol Rep. Zaldy Co and his senior vice chairperson, Marikia Rep. Stella Quimbo, for holding the hearing.

Other House officials, including Majority Leader Mannix Dalipe and Deputy Speaker and Pampanga 3rd District Rep. Aurelio “Dong” Gonzales Jr., were in attendance.

“We look forward to more of these meetings and engagements,” the Speaker told his colleagues and the President’s economic managers.