February inflation is great at 2.1 percent but the better news is that rice prices declined by almost 5 percent year-on-year. I take that as a sign that we can continue with our rate cuts and we can pursue a more aggressive expansionary stance on the fiscal side.

March 5th, 2025

At the same time, supply-affirming initiatives such as farm inputs and logistics improvements are critical. Our perennially volatile fruits and vegetable sector will also benefit from cold storage, which has been made a priority of the administration.

Moving forward:

We also need more ports and cheaper inter-island trade. We should look at repealing the provisions of the Cabotage Law which prohibits foreign shipping companies from serving Philippine inter-island trade.

We should also look at our rapidly deteriorating fish capture sector and see how we can make this more sustainable through aquaculture.

Before the administration ends, we must meaningfully start the High Standard Highway Network program to create a road transport backbone for the country. Bicol rail must also be financed.

The country’s most important structural defect, one that prevents us from meaningful industrialization, remains to be food and the ways to get it across the country.