Cheyenne Suarez

Iran-Israel war has ‘no significant impact’ in PH economy: Marcos Jr

President Ferdinand R. Marcos Jr. and First Lady Liza Araneta-Marcos honor the country’s most outstanding choirs in a ceremony titled Gintong Parangal: Honoring the Champion Choirs of 2024 at Malacañan Palace on November 24, 2024. The event recognized the achievements of seven choirs namely: University of the Philippines Manila Chorale, Quezon City Performing Arts Development Foundation, Inc. Concert Chorus, Sola Gratia Chorale, University of Mindanao Chorale, Los Cantantes De Manila, IMUSICAPELLA and University of Santo Tomas Singers for their contributions to the cultural and artistic landscape of the Philippines. These groups were celebrated for bringing pride to the nation through their remarkable musical accomplishments on the international stage. Yummie Dingding, PPA pool

Article (news)

Job Manahan

ABS-CBN News

CAPAS, Tarlac (UPDATE) — President Ferdinand Marcos, Jr. on Wednesday downplayed the economic impacts of the war between Iran and Israel to the Philippines, saying this would &quot;not have a significant effect.&quot; In a chance interview with reporters, Marcos Jr said its impact should be manageable to the country based on the economic managers&#x27; assessment. &quot;May effect siyempre kahit papaano… ang langis,&quot; said the President. &quot;But even before our meeting, nag-announce ng ceasefire… So far there is no significant effect in the economy. Binabantayan natin ngayon yung price counting,&quot; he added. Meanwhile, when asked if the fuel subsidy will still be distributed should oil prices become stagnant, he said status quo would prevail.&quot;Kung hindi nagbago yung presyo, then we do the same like before. Ang sinasabi namin hindi ayuda,  subsidy,  pag tumaas ang presyo,&quot; he said. &quot;Eh, kung di tumaas ang presyo ng langis, then there&#x27;s no need for that,&quot; he said. <div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2025/6/25/oil-prices-dip-as-iran-israel-ceasefire-holds-1058">READ: Oil prices dip as Iran-Israel ceasefire holds</a></div>The President vowed his government would continue monitoring the prices of products amid the war  &quot;Yun lang ang binabantayan natin ngayon ang price gouging. Kaya ang dami ko ng nakita, nagtataas ng presyo, hindi naman tumaas ang presyo ng langis. Yung value ang babantayan natin ngayon,&quot; he said. Meanwhile, when asked if the fuel subsidy would still be distributed should oil prices become stagnant, he said status quo would prevail. &quot;Kung hindi nagbago yung presyo, then we do the same like before. Ang sinasabi namin hindi ayuda, subsidy, pag tumaas ang presyo,&quot; he said. &quot;Eh, kung di tumaas ang presyo ng langis, then there&#x27;s no need for that,&quot; he said. In a briefing in Malacañang yesterday, DOE officer-in-charge Sharon Garin said that based on their meeting with economic managers and other government officials, they were seeing that due to the ceasefire and the &quot;slowing down of tensions,&quot; the war&#x27;s impact would be minimal.&quot;The impact is so minimal to our economy that it does not seem alarming as of now,&quot; Garin told reporters in a Palace briefing.&quot;That was the feeling eventually na the impact won&#x27;t be as alarming for today. We&#x27;ll see tomorrow kung may changes pa sa situation ng Middle East but everybody is closely monitoring what is happening there,&quot; she said. Marcos Jr. held a meeting earlier yesterday with the DOE, Department of Labor and Employment, Department of Finance, Department of Foreign Affairs, Department of Economy, Planning, and Development, and his economic czar Frederick Go.This comes as US President Donald Trump said a ceasefire between Iran and Israel was in force on Tuesday, urging both sides to &quot;not violate it.&quot;

President Ferdinand Marcos, Jr. on Wednesday downplayed the economic impacts of the war between Iran and Israel to the Philippines, saying this would “not have a significant effect.”

President Ferdinand Marcos, Jr. on Wednesday downplayed the economic impacts of the war between Iran and Israel to the Philippines, saying this would “not have a significant effect.”