00:00The National Economic and Development Authority, or NEDA, believes the U.S. suspension of foreign
00:04aid, including the U.S. Agency for International Development, or USAID, won't significantly impact
00:10the Philippines, as most major infrastructure projects are funded by Japan, South Korea,
00:16and by international banks. While this move could raise tariffs, the government is focusing on
00:22diversifying trade and boosting local industries. NEDA Secretary Arsenio Balisacan emphasized
00:28efforts to increase food production and improve flood control to strengthen the economy.
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