Economic managers

BBM justified his cabinet reshuffle as a response to the people's demand for the government to address key problems, as expressed in the last election.

- BOO CHANCO

Opinion polls before the election pointed to the topmost concerns of Filipinos, namely: high food prices, job availability and low income. These are economic issues that ordinary Pinoys think were neglected by the administration and that caused the trust rating of BBM to plummet.

In other words, from the people's perspective, BBM and his economic managers failed them. So, why did the economic managers get a quick free pass and even some words of praise from BBM?

Curiously, the Makati business folks called a press conference to urge BBM to retain the economic managers for their supposed good performance. Maybe the economic managers have been good for the economic elite, but not for the hoi polloi.

I was wondering why the Agriculture Secretary was not included among the economic managers. What the Agriculture Secretary does or fails to do has serious ramifications on the economy's health.

In fact, the economic problems we have experienced in BBM's first three years were largely agricultural: rice, sugar, tomatoes, onions, pork and chicken prices. Up to now, we still do not have a clear idea of how BBM will make things better in agriculture.

BSP Governor Eli Remolona Jr., at one point, said monetary policy alone cannot resolve supply-driven inflation, particularly in the food sector. It calls for comprehensive and coordinated actions by other government agencies to address the underlying supply-side issues contributing to rising food prices.

That's not even a hint. Remolona is effectively saying BBM, together with his agriculture and trade secretaries, was not doing enough to tame food inflation.

A rice trading cartel was clearly manipulating the price of rice, both domestic and imported. Yet the Agriculture Secretary denied a rice cartel existed.