The promise of president-elect Bongbong Marcos Jr. of P20 per kilo of rice is possible if farmers receive proper support according to the National Economic Development Authority (NEDA).
NEDA Secretary Karl Kendrick Chua said BBM's plan to lower the price of rice to P20 per kilo is possible. This can be done, Chua said, under the Rice Tariffication Law.
“Under Rice Tariffication, the programs are expected to increase the yield per hectare from four metric tons to five or six metric tons, so that is possible actually,” Chua said.
Chua added that it is necessary to support rice production through targeted subsidies for farmers and this will not be possible if the said law is repealed.
Chua also stated that the next administration needs to continue fiscal policy, economic reforms and programs under the Duterte administration.
Just like the programs that should be continued are the tax reform program, rice tariffication, Build Build Build and many more that boosts the Philippine economy.
Chua said the economic team is ready to discuss with the new administration to lay out what else should and should not be done for economic growth.
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