News » Inflation will be PH’s biggest challenge in 2022 – Diokno

Inflation will be PH’s biggest challenge in 2022 – Diokno

Inflation will be a bigger challenge to the Philippine economy than COVID-19 in 2022, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno.

In an interview with BBC’s Asia Business Report, Diokno said that he expects the country’s economy to return to pre-pandemic levels by mid-2022. However, as recovery happens, so will the increase in prices.

He explained that the inflation in food prices is a “result of recent weather disturbances” and the international price of crude oil.

Additionally, the BSP governor noted that unemployment — particularly amongst the youth — could also become an important issue in the Philippines by the time of the national election.

Diokno stated that “the next government should continue to focus on investment in human capital” to address this problem.

Read more here.

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