Govt prepares fuel subsidies amid Middle East tensions

The Philippine government is preparing fuel subsidies and other forms of aid to mitigate potential inflationary impacts due to rising tensions in the Middle East.

Undersecretary Rosemarie Edillon of DEPDev emphasized that while fuel prices have risen recently, the country's current inflation rate is expected to stabilize between 2 and 3 percent this year, within the government’s target range.

Edillon assured that measures are in place for quick response systems should tensions escalate, with a focus on ensuring safety for Filipino citizens abroad and addressing domestic economic impacts such as potential rises in oil prices.

The government aims to maintain flexibility to respond to any eventuality and encourages prudent cost-saving strategies among the public to minimize inflation's impact on daily lives.

Despite recent uncertainties, DEPDev remains vigilant and committed to limiting inflation’s effect on vulnerable sectors while adjusting its growth target between 5.5% and 6.5%.