ADB report on poverty worries Malacañang

Malacañang is worried about an Asian Development Bank report that as much as 4.12 million Filipinos may slide into poverty this year on the unabated rise in food prices.

“Certainly, it is a cause for concern for the government. Nobody wants to have that. Nobody wants to see those numbers go up the way that [ADB] is projecting,” deputy presidential spokesperson Abigail Valte told reporters in an interview.

Valte said the government is in the process of “threshing out several measures” to keep food prices from steeply increasing.

The Department of Trade and Industry, for instance, is constantly monitoring the prices of basic commodities just to make sure that “any increase would be reasonable and nobody would take advantage of certain situations,” she said.

Read more at GMA News

Con Yap