Filipinos’ economic problems only ‘haka-haka,’ says Gadon

May 17, 2024 , 09:11 PM

By Clarist Mae Zablan

(May 17, 2024) – Anti-poverty czar Larry Gadon claimed that the economic problems faced by Filipinos are only “haka-haka” or “speculation,” insisting that the country’s status has improved under Pres. Bongbong Marcos Jr.

Gadon stated the recent increase in Filipinos going to shopping malls, eating in fastfood chains, and buying cars indicates an improvement in the country’s purchasing power and economic growth.

“‘Yung mga nagsasabi na napakahirap ng buhay, sila lang nagsasabi niyan. Haka-haka lang nila ‘yan,” said Gadon in a televised briefing.

But contrary to Gadon’s claim, the country’s purchasing power has been on a downtrend. Based on data from the Bangko Sentral ng Pilipinas, the purchasing power of the peso (PPP) dropped from P0.87 in 2022 to P0.82 in 2023. As of last month, the PPP stood at P0.80.

Poverty incidence dropped from 18% in 2021 to 16.4% in the first semester of 2023, according to the Philippine Statistics Authority (PSA). However, this is still slightly above the pre-pandemic rate of 16.2% in 2018.

Based on PSA figures, inflation rose to 6% last year—the first full year of Marcos in office. It’s the highest tally in the last five years.

Close to 50% of Filipino families consider themselves poor in the first quarter of the year, according to a survey of the Social Weather Stations. The result was similar to the survey last December.

In his message during Labor Day, Marcos urged a review of minimum wages across the country. But various trade unions called for stronger and more urgent action, noting that minimum wages have not kept up with the rising cost of living.

Gadon, who was disbarred in June 2023 for repeatedly hurling profanities at a journalist, urged the public to support the administration.

“‘Yung mga nagsasabi na hindi maganda ‘yung pamamalakad ng administrasyon ay mga dati nang naninira ‘yan. Kaya huwag kayong maniwala sa kanila. Napakaganda ng pamamalakad ni President Bongbong Marcos,” said Gadon.

Gadon, who lost in the senatorial race in the 2022 elections, was appointed by Marcos.

(PM)

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