On The Eve Of Duterte’s SONA, Philippines’ Inflation Rate Drops To Historical Low

C68D6923-4E88-4A87-BD15-8EBFD6254E9CMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – President Rodrigo Duterte will have a news headline when he delivers his third State of the Nation Address (SONA) on Monday.  The Philippines’ inflation rate has just dropped from 5.2% to 0.1%!

The good news was announced by the Central Bank of the Philippines in a hastily-called press conference at the Manila Peninsula Hotel.

Central Bank Governor Nestor Espenilla, Jr. said that the primary factor that led to the decline of the inflation rate was the sudden influx of cash in the National Capital Region (NCR).  This, in turn, resulted in greater demand for goods and services and increase in overall market productivity.

Thanks to the organizers of the anti-SONA rallies for handing out cash — as much as P10,000 each — to those who agreed to attend tomorrow’s mass protests.

To avail of the P10,000 payment, one must sign a notarized statement of intention to appear at the rallies.  Fifty percent of the payment is payable upon submission of the statement and the other half is payable upon submission of a selfie photo showing the rallyist at the protest venue.

The State of the Nation is strong!

 

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