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Marcos tackles govt priorities with US-ASEAN biz leaders, ex-UK PM Blair.

President Ferdinand “Bongbong” Marcos Jr. Tackled his administration’s priorities in separate meetings with
business leaders and a former United Kingdom prime minister championing globalization during his working visit to
the United States.

In a Facebook post late Wednesday, Radio Television Malacañang (RTVM) said Marcos attended a business
dialogue with the US-Association of Southeast Asian Nations (ASEAN) Business Council and the US Chamber of
Commerce.

“The President discusses the Philippines’ priorities as conveyed in his national statement during the 77th Session of
the United Nations General Assembly (UNGA) High-Level General Debate, and the bilateral economic and
investment agenda of the Philippine Government,” said RTVM in its post.

On early Thursday, the chief executive confirmed in an Instagram post his meeting with ex-UK Prime Minister Tony
Blair, who is now executive chairman of the Tony Blair Institute for Global Change.

“We tackled the optimistic peace process in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)
and explored concrete ways to address other priority issues in the global economy such as food security, climate
action, and trade,” Marcos said.

State-run PTV likewise shared photos of Marcos’ meeting with World Bank President David Malpass. RTVM also
confirmed Marcos met with American global food corporation Cargill. No other details were provided.

Among the highlights of his trip was his speech before the UN General Assembly, making him the first Philippine
leader to address the international body physically since the late President Noynoy Aquino in 2010.
Marcos’ six-day working visit to the US began on Sept. 18.

Presidential bets tackle economic impact of Russia-Ukraine crisis in CNN PH debate.

Vice President Leni Robredo calls for the suspension of excise taxes on oil, while labor leader Leody de Guzman
wants to scrap oil deregulation.

While Ukraine is thousands of kilometers away from the Philippines, the economic impact of Russia’s invasion will
be felt by Filipinos.

Global oil prices already jumped over $105 per barrel due to the geopolitical conflict.

With the spike, the Philippines is bracing for a domino effect, spreading through crucial sectors such as energy and
transportation, on top of a currency depreciation.

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Presidential bets tackle economic impact of Russia-Ukraine crisis in CNN PH debate

FEB 28, 2022 12:00 PM PHT

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Vice President Leni Robredo calls for the suspension of excise taxes on oil, while labor leader Leody de Guzman
wants to scrap oil deregulation
MANILA, Philippines – While Ukraine is thousands of kilometers away from the Philippines, the economic impact of
Russia’s invasion will be felt by Filipinos.

Global oil prices already jumped over $105 per barrel due to the geopolitical conflict.

With the spike, the Philippines is bracing for a domino effect, spreading through crucial sectors such as energy and
transportation, on top of a currency depreciation.

Senator Panfilo Lacson

Lacson enumerated the safeguards the Philippines has in case of external economic shocks.

He said there are special provisions in the national budget where aid can be given should Dubai crude oil reach $80
on average for three months.

The government’s economic managers already announced that they are preparing P2.5 billion for fuel vouchers.
The Department of Agriculture also has P500 million in its budget that can be used for fuel subsidies.

Vice President Leni Robredo

Robredo also noted the mechanisms and triggers set for fuel subsidies, but pushed for the automatic suspension of
excise tax.

“Kailangan mag-automatic suspension ng excise tax. Kasi ‘yung mababawas nito sa presyo ay mga P10 per liter,
‘pag nagkaroon ng automatic suspension,” Robredo said. (There needs to be automatic suspension of excise tax. It
would reduce prices by P10 per liter.) Robredo also said the implementation of value-added tax must be
scrutinized to ensure that charges which aren’t supposed to be passed on to consumers won’t be passed on.

“‘Yung systems loss, ‘yung distribution charges, kailangan ma-subsidize ito ng pamahalaan para ‘yung kuwenta
natin halos mga P600 ang mababawas sa bawat pamilyang panggastos,” Robredo said. (Systems loss and
distribution charges must be subsidized by the government. I estimated that this would reduce a family’s expenses
by nearly P600.)

Leody de Guzman

De Guzman echoed what activist groups have been demanding for years: Scrap the oil deregulation law.
“Kung hindi ‘yan mare-regulate at palaging deregulated ay nasa kamay ng mga malalaking korporasyon ng langis
na magsamantala at gamitin ‘tong krisis na ito para kumita ng doble sa presyong kanilang dapat kitain,” he said. (If
oil won’t be regulated and will be left to the hands of big oil corporations, they will take advantage of this crisis to
double their earnings.) –