President Ferdinand “Bongbong” Marcos Jr. | PHOTO: Presidential Communications Office facebook page
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Wednesday said special powers to curb inflation is no longer necessary, saying he already has the power to declare an emergency and control prices of commodities.
The President issued the remark as the House of Representatives is mulling to give special powers to the Department of Agriculture — which is headed by Marcos — to ensure the stability of food prices.
“I do not think that it is necessary to ask for special powers. I already have the power to declare an emergency and to control the prices of commodities. So I don’t think there’s any need for more than that. That is efficient,” he said in a chance interview in Rizal Park in Manila.
Last Feb. 7, the Philippine Statistics Authority said that the headline inflation rate for January 2023 was at 8.7% — higher than the 8.1% recorded in December 2022.
This was the fastest inflation since a 9.1% headline rate in November 2008.
Marcos earlier said he expects to see the country’s inflation rate going down.
In July last year, a lawmaker suggested giving Marcos special powers that would allow him to manage the economy amid skyrocketing inflation rates.