President Marcos urged: Outline measures amid weakening peso

MANILA, Philippines — President Marcos should take clear and concrete steps to arrest the peso’s continued depreciation against the US dollar and prevent the further erosion of Filipino’s buying power through soaring inflation with meager salaries, according to Akbayan party-list Rep. Chel Diokno.

“More than the advice, people are waiting for government’s quick response to lessen the adverse effects of rising prices of commodities, worsened by the weakening of the peso,” Diokno said.

He noted that while reassuring the public is important, Filipinos also need to see how the government intends to manage the economic challenges and mitigate the effects of rising prices on household budgets.

“Filipino families are already stretching their incomes to cover basic needs. The government must lay out clear, concrete measures to address these economic pressures and ease the burden on ordinary households,” he said.

Diokno, who belongs to the House minority bloc, added that the impact of a weakening peso is ultimately felt in the daily lives of ordinary Filipinos, as the cost of basic goods eats further into already limited household budgets.

“Every time the peso weakens and prices rise, families can afford less with what they earn. The government must act to protect their purchasing power and ensure that basic necessities remain within reach,” he said.