Duterte OKs recommendations to strengthen domestic economy amid Russia-Ukraine conflict
MANILA, Philippines — President Rodrigo Duterte approved recommendations of his economic team to strengthen the domestic economy amid the conflict between Russia and Ukraine.
READ: Russia’s invasion of Ukraine: Latest developments
Cabinet Secretary Karlo Nograles on Wednesday said that the President convened several Cabinet members to discuss potential scenarios should the ongoing tensions continue and escalate.
“In this regard, the President has approved the recommendations of his Economic Team to strengthen our domestic economy, stabilize food prices, provide social protection, and explore diplomatic channels to help resolve the conflict,” Nograles said in a video message.
Duterte gave the green light for the Department of Agriculture (DA)’s proposal to boost local production which include the following:
- Ramping up food production through Plant, Plant, Plant Part Two
- Increasing rice buffer stock good for at least 30 days
- Distribution of financial assistance to palay (unhusked rice) farmers
- Addressing the increasing price of fertilizer such as the provision of fertilizer subsidy and market access through bilateral discussions with fertilizer-producing countries
The President likewise accepted DA’s recommendation to distribute fuel discount vouchers to farmers and fisherfolk amid soaring fuel costs.
Article continues after this advertisementAlso given a nod was the improvement of production and intensifying research to alleviate the price of feeds, giving logistical support like food mobilization from high-producing regions to cities through the Kadiwa mobile vans and trucks, and offering transportation cost subsidy for basic commodities.
Article continues after this advertisementThe government will also continue negotiations with partners to address agricultural export threats.
“We shall likewise continue talks with our partners and heighten negotiations with non-traditional partners to address threats to agricultural exports while improving our digital agricultural infrastructure and systems,” said Nograles.
He added that the government is prepared to carry out the implementation of the Price Control Law.
Furthermore, the Palace called for the end of the tensions and called on Ukraine and Russia to forge an agreement.
“In conclusion, we appeal for an immediate end to the unnecessary loss of life, and call on the states involved to forge an accord that can help prevent a conflagration that could engulf a world still struggling to recover from the COVID-19 pandemic,” said Nograles.
“The course of history and the fate of our world will be shaped by the decisions that will be made by its leaders. We are one in prayer, together with all peace-loving citizens, that they be guided by wisdom and a genuine desire to save lives, establish harmony among neighboring nations, and forge a just and lasting peace for humanity,” he added.
Russia launched an invasion of Ukraine on February 24, gathering hundreds of thousands of troops along its border.
READ: Russia’s Putin launches invasion of Ukraine
