President Ferdinand Marcos Jr. is one chief executive who does not sit back and rest on his laurels. The Philippine economy may have grown by 7.6 percent in 2022, the fastest in nearly four decades. Know more:
President Ferdinand Marcos Jr. is one chief executive who does not sit back and rest on his laurels. The Philippine economy may have grown by 7.6 percent in 2022, the fastest in nearly four decades, but with the still high inflation rate across the nation, President Marcos knows too well that not everybody is enjoying the benefits of the economic recovery.
Local newspaper headlines and radio and television news programs, meanwhile, have screamed about the sharp spike in onion prices for weeks. And for good reason. Onion is one of the basic vegetables used in cooking Filipino dishes. It is also commercially grown in the country and one wonders why onion prices shot up.
The onion shortage and its high prices are a reflection of the lack of post-harvest facilities in the Philippines. Our farmers are often left at the mercy of traders due to the absence of these facilities, where they can temporarily store their crops for a longer time. Not enough agricultural products actually reach the market also due to the lack of post-harvest facilities. As result, farmers incur post-harvest losses that tend to drive up prices of vegetables and other agricultural crops.
President Marcos, though, was not all glum on the Philippine economy. In fact, he was high-spirited after learning about the gross domestic product results. Says President Marcos: “We are happy to receive the news that our growth rate for the year 2022 exceeded all expectations even by the estimates of the international financing institutions and we are holding at 7.6 percent.”
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