Ogie Diaz is not in favor of giving P1K “ayuda” to Filipino households
OGIE DIAZ – The talent manager/vlogger took to social media wherein he expressed his opposition to the proposed P1000 “ayuda” to Filipino households.
Inflation, the rate at which prices of goods and services rise over time, can have several negative effects on an economy. One of the most significant impacts of inflation is that it reduces the purchasing power of a currency, leading to higher prices for consumers and making it more expensive for businesses to operate. This, in turn, can lead to lower economic growth, reduced investment, and higher unemployment rates as businesses struggle to stay afloat.
Additionally, inflation can lead to social and economic inequality, as it disproportionately affects those on fixed incomes, such as pensioners, and those with lower incomes who cannot afford the higher prices. It can also lead to a decrease in savings as people try to spend their money before it loses its value, and it can make it harder for lenders to make loans as they are unsure of the future value of the money they lend.
Finally, high inflation rates can lead to instability in financial markets and currency values, making it harder for businesses and individuals to plan for the future. In short, inflation can have a range of negative effects on an economy, and it is important for policymakers to monitor and manage inflation rates to maintain a stable and prosperous economy.
In order to mitigate the effects of inflation in the country, the Department of Finance (DOF) announced earlier that they are planningto distribute P1,000 cash assistance to 9.3 million households. Five hundred pesos will be given to each home in the following two months, as per the Targeted Cash Transfer (TCT) program.
But talent manager Ogie Diaz is opposing the plan of DOF. According to him, instead of “ayuda” the government should provide jobs instead. He’s also doubtful if the program is free from corruption. “Sana, trabaho ang i-produce. Eh sa ayuda na yan, anong assurance na sa brgy level eh walang kupitang magaganap? Sa brgy lang ba?” he noted.
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