The Department of Agriculture (DA) assured the public on Tuesday the country’s food production remains sufficient, particularly prime agricultural products such as rice, vegetables, chicken, and fish. In a virtual presser, DA Undersecretary Ariel Cayanan said record-breaking harvest productions are monitored, securing three-month long buffer stock. “During this first quarter’s end, we have recorded 90 days to last buffer stock, in the second quarter, of course, our outlook with the other imports that will be arriving, we will have another 90 days, our latest in quarter 3 where we are preparing for the wet season, we have 60 days and,

Domestic inflation rate is not seen to exceed 5 percent despite expectations of an elevated inflation rate until around the first half of 2023. In a virtual briefing on Tuesday, BSP Department of Economic Research (DER) Managing Director Zeno Ronald Abenoja said oil price developments in the international market along with changes in commodities prices are among the factors seen to drive the inflation rate. “Forecasts do not indicate inflation exceeding 5 percent. It could go towards 5 percent, however, the situation is uncertain,” he said. During the rate setting meeting of the central bank’s policy-making Monetary Board (MB) last

The Department of Public Works and Highways (DPWH) has completed two more flood control projects in Nueva Ecija in time for the rainy season. DPWH-Nueva Ecija 2nd District Engineer Elpidio Trinidad said on Tuesday the two projects in the towns of San Leonardo and Peñaranda were funded under the 2022 General Appropriations Act, costing PHP95.96 million. Trinidad cited the importance of constructing structural flood mitigation measures, especially in the province’s high-flood risk areas. He said the timely completion of flood mitigation structures will give the residents living along with the river protection against possible flooding. “These structures were built along

The country continues to attract investments in data center and renewable energy as the Board of Investments (BOI) met with executives of infrastructure firm Diode Ventures, LLC (USA) and Endec Group, Inc. In a statement Tuesday, BOI said its managing head Trade Undersecretary Ceferino Rodolfo recently met with Diode Ventures president Brad Hardin and Endec Groups chief executive officer William Johnson. “Diode Ventures and Endec Group discussed with the BOI their serious and very substantial investment plans in hyperscale datacenter and renewable energy generation projects in the Philippines,” the investment promotion agency said. Diode Ventures is an infrastructure development firm