The focus is shifting.
Economic managers have a cause for celebrating after inflation surprised to 3.8% in February 2019, down from the previous month’s 4.4% and marking the return to the 2-4% target.
However, the economic team said these celebrations are short-lived, as they need to gear up for a new contender ahead: weather.
“A concern that may hamper food production is the presence of El Niño, which, according to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration, will likely continue until June 2019,” the team said in a joint statement.
“Thus, the government must take pro-active measures to mitigate its adverse impacts on the agriculture sector in the immediate term and to increase its resiliency against extreme weather conditions over the medium to long term.”
Around 19 provinces may be hit by drought this year, which includes Metro Manila.
Time will tell if the government has prepared well.