A National Economic and Development Authority (NEDA) official has stated that the country is not expecting significant effects of El Niño on inflation rate this year.
During the sidelines of a weekly media forum in Quezon City, NEDA Undersecretary Rosemarie Edillon assured that the administration of President Ferdinand 'Bongbong' Marcos Jr. is taking steps to mitigate potential negative impacts of the El Niño phenomenon in the country.
While the dry spell this year is not expected to affect inflation, Edillon mentioned that the phenomenon could potentially occur in the early months of 2024.
“Ngayong taon na ito hindi namin nakikita iyon. Kung impact for next year that really depends on how we’re able to prepare this year,” she said.
“Iyong brunt talaga ng El Niño we expect it to happen by beginning of next year of 2024 kaya lang iyong preparasyon para doon kailangan ngayon nagsisimula na,” Edillon added.
The NEDA official also highlighted that reducing the allocation of irrigation water for residential use in the Angat Dam could help alleviate the effects of El Niño.
Additionally, she emphasized the importance of capitalizing on frequent rainfall experienced throughout the country, such as expediting the completion of small impounding water projects.
The government does not anticipate significant economic or inflationary impacts from El Niño if appropriate and timely preparations and contingency measures are implemented, according to Edillon.
The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) earlier announced that weak El Niño has begun in the Tropical Pacific and it may strengthen in the next months.
Due to this, the water level at the Angat Dam has dropped below the minimum operational level, prompting officials to declare cuts in water distribution for irrigation and Metro Manila consumers.
