00:00The National Economic and Development Authority, or NEDA, believes the U.S. suspension of foreign aid,
00:05including the U.S. Agency for International Development, or USAID, won't significantly
00:12impact the Philippines as most major infrastructure projects are funded by Japan, South Korea,
00:18and international banks. While the move could raise tariffs, the government is focusing
00:24on diversifying trade and boosting local industries. NEDA Secretary Arsenio Balisacan
00:31emphasized efforts to increase food production and improve flood control to strengthen the economy.
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