MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday said the country’s current inflation was at a “reasonable level” compared to the previous year’s.
Marcos made the statement before government officials and the diplomatic corps during the vin d’honneur (wine of honor) at Malacañang.
“Despite the woes brought about by global inflation, our country has still managed to curb inflation to a reasonable level,” said Marcos in his speech.
“This is inflation that is brought about by forces we cannot control. But, nonetheless, I think we have done a good job and it is a very large improvement [compared to the] situation that we were under maybe a year ago,” he added.
READ: May inflation rises to 3.9%, highest in five months
According to Marcos, the current inflation, at 3.9 percent as of May, is still within the government’s target of 2 to 4 percent.
The May inflation was significantly lower than the 6.1 percent recorded in May 2023.
He also stressed that the Philippines continues to enjoy a “gold rating as an investment destination.”
“We are credited with a stable output which signals growth in the momentum in the medium term. It translates to more accessible financing for our government and our programs,” said Marcos.
“So we will maintain that status and we will try to improve that across all major regional and international agencies,” he added.
