Balanga treasurer cites effects P58 to $1

Philippine Standard Time:

Balanga treasurer cites effects P58 to $1

The weak peso exchange now prevailing in the country may have negative and positive effects to us all, according to Joselito Evangelista, treasurer of Balanga City, Bataan.

He said: “Negative in the sense that bababa ang purchasing power ng peso, mahihirapan ang mga tao with no adjustments in salary.” “Positive in the sense that marami naman din taga-Balanga ang may kamag-anak na overseas workers, that would mean more remittances,” Evangelista said.

The plus point for local economy is that overseas workers can send more dollars back home, increasing buying capacity of their relatives who may want to invest in some business or buy real property in Balanga, he explained.

The post Balanga treasurer cites effects P58 to $1 appeared first on 1Bataan.

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