Category Archives: Economy

Vice President Leni Robredo’s Comment On Money Laundering Charges Filed In The U.S. Against Janet Napoles And Kin

F7ADF8D1-7F4E-442C-9CCB-78BA8331413E.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – After receiving news that alleged PDAF Queen Janet Napoles and her kin were formally charged in the United States for money laundering, Vice President Leni Robredo sent The Adobo Chronicles this comment:

”Tunay na nakakabahala. Nguni’t higit sa lahat, sayang ang perang nilabhan.  Bakit kailangang gawin ito? Madumi naman talaga ang pera, hindi na dapat labhan at ikula. Sana, ipinamahagi na lang ito sa mga kababayan natin sa laylayan.”

 

Even The Philippines’ Richest City Suffers From High Inflation

A745CCD9-01D8-4C5A-93EF-BF35D55B791AMAKATI CITY, Philippines (The Adobo Chronicles, Makati Bureau) – For quite some time now, senior citizens residing in Makati City have enjoyed their free cakes on their birthday, a benefit granted to them by the city government under its Blu Card program.

But apparently, even the Philippines’ richest city (more than P34 Billion in assets) can’t escape the wrath of rising inflation (5.2% as of late.)

So, the Makati government is implementing a retrenchment program by providing Makatizens with a cup cake instead of the usual full-sized cake during their birthdays.

It’s the thought that counts, right?

 

 

 

 

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!