00:00 Good morning, congressmen.
00:04 Mosvick asked my first question about the KSPGs.
00:09 Maybe this is my question.
00:12 Our aid program in ACAP was released.
00:19 Some say that this is an electioneering or a campaign for the 2025 elections.
00:31 What do you say to the claims that ACAP is an electioneering for 2025?
00:41 Maybe this is an excuse to the poor.
00:49 The middle class is suffering because they are given aid but the middle class is forgetting.
00:57 This is not the first time that the government is using aid for electioneering.
01:07 Why is it bad to give aid to people because the election is near?
01:17 If we don't give, we are wrong.
01:20 If we give, we are using it for election.
01:24 This is unfair.
01:26 ACAP is not the only agency that is giving aid.
01:31 Various government agencies have a lot of programs, especially this administration.
01:37 From CBOL to ECIP, BPSF, many touch on various sectors.
01:44 That's not single-handled.
01:47 It's not very unfair without proof that this is what is being used for electioneering.
01:56 It is simply a program of the government, this administration, which aims to help the vulnerable sector,
02:05 particularly those who are eligible to get the services and the aid that we call ACAP.
02:15 Let's not be unfair to say that.
02:19 If I may add, it would be better if the government is just giving aid for electioneering.
02:26 Electioneering is not helping the government.
02:29 It goes to show that this is not for electioneering, this is for helping the vulnerable.
02:34 In Tondo, Manila, when ACAP was launched a few days ago,
02:40 they felt the love of the government.
02:44 The sectors that ACAP targets are those that were not targeted before.
02:50 Why should we put negative connotations on the efforts of our government?
02:57 ACAP is embracing those that were not embraced before.
03:00 It's about time that we give credit where credit is due.
03:05 I am thankful to President BBM, especially to Speaker Martin Romualdez,
03:10 for spearheading such a program.
03:14 At least I can only speak for my district.
03:16 The 1st district of the city of Manila is very thankful to the President and to the Speaker
03:20 for giving us the sector because we were given our vendors.
03:26 Back then, they were told that they have someone who can help them,
03:29 and that they should not be helped, that it should be for the poor.
03:33 When we gave them the vendors, they were happy.
03:36 They added to their efforts.
03:38 In our small way, we were able to help them in their businesses.
03:43 Thank you President BBM and thank you Speaker Martin.
03:46 ... election meeting during election period, and the giving of social services,
03:52 even during election period, is allowed by the election laws,
03:57 once there is a certificate of exception.
04:00 I think it would be unfair and wrong to give a negative connotation
04:06 with this kind of aid.
04:08 This is social services.
04:10 This is for the people.
04:12 Of course, we should thank the administration because this happened just now.
04:21 The middle-income earners are targeted.
04:25 We have the Poor Peace Program.
04:27 The poorest of the poor receive aid.
04:30 We also have this program, this ACAP,
04:32 Ayuda Para sa Mga Kapos Ang Kita Program,
04:36 wherein the individuals who do not exceed P22,000 per month
04:44 is entitled to be a beneficiary and to receive this kind of social service.
04:49 So, I guess, let's not give this program a bad connotation
04:55 because this is a big help.
04:58 This is a nationwide social service approach
05:01 for those individuals who are middle-income earners.
05:04 Thank you.
05:06 One last question.
05:08 The dollar has already exceeded P58.00.
05:12 Of course, this is the lowest the Philippine peso has been since November 2022.
05:18 What is the reaction here?
05:20 For sure, there are many dollar-denominated buyers who will increase
05:26 because now the dollar is at P58.00.
05:29 But of course, OFWs will benefit from the higher remittance.
05:34 So, what is your opinion on the Philippine peso falling against the dollar?
05:40 For me, this has a big effect.
05:43 Remember that a significant portion of our national budget is through dollar loans.
05:53 And because these are dollar-denominated loans,
05:56 every peso that we lower has a big effect on our GDP.
06:05 And just like what was mentioned, I will just mention the assistance that is being given.
06:12 This is the solution.
06:14 The solution to mitigate the effect of inflation on vulnerable sectors.
06:26 That is why our national government is pushing and investing P26 billion
06:33 through Speaker Romualdez and BBM administration
06:36 to help these vulnerable sectors that might be affected by inflation.
06:42 And because the dollar rose, the peso decreased.
06:47 Every peso, if I'm not mistaken, has hundreds of billions of pesos effect on us
06:54 based on our dollar-denominated loans that the national government has acquired.
07:02 So, as much as possible, we encourage more dollar remittances from our OFW sector.
07:14 We have 12 million of them outside of the country, to 14 million.
07:19 So maybe their dollars that they remit back here would definitely help this economy keep afloat.
07:26 So, you know, it has an effect and it can also be mitigated.
07:34 [End of Audio]
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