BAM201

1. Describe its implication to
the economy of the
Philippines.

2. On March 1, 2022, President Duterte approved the
recommendation of the country's economic team:
 to strengthen the domestic economy;
 stabilize food prices, provide social
protection, and;
 explore diplomatic channels to help
resolve the conflict.

3. The following are Implications to the
economy of the Philippines:

4. Boost local food production
1. President Duterte has agreed to the recommendations
of the Department of Agriculture (DA) to boost local food
production to ensure food stability in the Philippines.

5. What is a "Plant, Plant, Plant" ?
It’s a Part Two program by increasing rice buffer stock
not less than 30 days; providing financial assistance to
rice farmers; addressing price hikes on fertilizers by
providing fertilizer subsidy; and ensuring market access
through bilateral discussions with other fertilizer-
producing countries

6. 2. The President approved the DA's recommendation to
distribute fuel discount vouchers to farmers and
fisherfolks to address the issues of increasing fuel
prices in the country.
 The government will also intensify crop production,
boosts research on reducing feeds prices, and provide
logistical support such as food mobilization from
high-production provinces to cities.

7. 3. President Duterte also approved the
recommendations of the Department of Energy (DOE)
to implement the PHP2.5 billion worth of Pantawid
Pasada, and PHP500 million worth of subsidy under the
fuel discount program for farmers and fisherfolk, to
ensure there's enough supply of oil in the country.

8. Review of Oil Deregulation Law
1. The Palace also called on the Congress to review the Oil
Deregulation Law, particularly provisions on unbundling the price,
and the inclusion of the minimum inventory requirements in the law,
as well as giving the government intervention powers/authority to
intervene when there is a spike and/or prolonged increase of prices
of oil products--as part of the government's medium-term measures.
2. The government is also eyeing the building of the strategic
petroleum reserve infrastructure, ensuring Minimum Inventory
Requirements, and advocating for energy conservation and efficiency.

9. 3. The Department of Trade and Industry's recommendations to
accelerate renewable energy adoption; support investments in
Utility-Scale Battery Storage;
 to maximize utilization of renewable energy sources;
 support investments in modern storage facilities for oil and
grains to increase within-the-border holding capacity; and
 empower the private sector to help in strategic stockpiling
will be put in place, as further approved by the President.
4. The AFP and the PNP also gave assurances that government
troops, as well as the Philippine military and police assets, are
on stand-by, noting that they have respective contingencies
prepared for any conflict developments.

10. THE END!
THANK YOU & GODBLESS