Senator Gatchalian calls for calm, responsible political discourse to safeguard PH economy

Senator Sherwin Gatchalian has appealed for political sobriety and responsible public discourse to safeguard the economy and restore investor confidence. This call for stability comes amid escalating political rhetoric that may impact the country's economic landscape.

Gatchalian has issued an appeal as the increasing political uproar begins to impact macroeconomic stability and investor confidence. A particular concern is the peso's further decline, which reached a record low of P61.721 against the US dollar at the close of business last Friday.

He noted that the impact of political discourse is reflected in the peso’s performance against the dollar, stating, "While external factors are at play, analysts are now citing an 'uncertainty premium' attributed to political tensions."

“We cannot allow this to continue. The country's economic growth and the welfare of our people are at stake," Gatchalian said in a news release posted on the Senate of the Philippines website.

"Malinaw na hudyat ito galing sa ating financial markets. Mahalagang magpakita ang lahat ng maayos na pampublikong diskurso na magiging kapaki-pakinabang at may pananagutan," Gatchalian noted.

According to the senator, further depreciation of the peso threatens to aggravate inflation by driving up the cost of imported goods, including fuel and rice.

-Paraluman News