Diokno: Concrete plan needed amid peso drop

MANILA, Philippines — Akbayan party-list Rep. Chel Diokno urged the Marcos administration to present a clear and concrete plan to address the peso’s continued depreciation and cushion its impact on ordinary families.

Diokno said it is important that public assurances are matched by decisive action and practical measures to manage the economic challenges and mitigate the effects of rising prices on household budgets.

“Apart from advice, what the people are waiting for is the government’s swift action to lessen the effects of continued increase in prices of basic goods and the weak value of the peso,” he said in a statement.

He stressed that families already struggling to make ends meet need clear answers on what the government will do to help them cope with rising living costs.

“The government must lay out clear, concrete measures to address these economic pressures and ease the burden on ordinary households,” Diokno said.

“Every time the peso weakens and prices rise, families can afford less with what they earn. The government must act to protect their purchasing power and ensure that basic necessities remain within reach,” he said.

The Philippine peso has fallen to historic levels of over P64 versus the US dollar.