With the increasing price of everything, the cost of rice per kilo is expected to beat President Rodrigo Duterte’s approval rating on the first quarter of 2019, Asian Institute of Management School of Economics said.
The current price of rice ranges from P48.00 to as high as P58.00 per kilo and it is expected to hit the P75.00 mark on April 2019. The latest trust rating of Mr. Duterte according to Pulse Asia is at 75%.
Economist and businessman Arturo Fruelda said the increasing price of rice and other basic commodities is a clear indicator that Mr. Duterte’s economic team is not doing its job.
According to Statista, a website that analyzes the world’s economy, Philippine’s current inflation rate is 4.17% – highest since 2012.
“I think Mr. Duterte needs to fire-and-hire because his economic team is not really doing their job”, Fruelda said.
He added that more people will not be able to afford the rice if the economy will not change in favor of Duterte’s administration next year.
“People trust Mr. Duterte but sadly, the business and investors do not. This is the main reason why we the economy is really doing badly”, he added.
The country had experienced the lowest inflation rate of 1.41% in 2015 under the administration of former President Benigno Aquino III.
NASA Says Shit Could Rain Over Dubai after ISS Module Breaks