Amidst the Asian Development Bank forecast of a GDP growth this year of about six percent (6%) from a negative 9.6% in 2020, the new administration under newly elected President Ferdinand Marcos, Jr. is challenged as to what to expect from his presidency. BBM will take office at a time of over-all high levels of inflation, peso devaluation and global financial tightening. Discuss briefly the following economic conditions, if not aberration and how this can be addressed on both fiscal and monetary grounds to stir up the weakening economy.

a. Rising costs of imports of raw materials and finished goods due to weakening peso currency to dollar. b. Rising crude and fuel prices in the global market affecting local energy prices for consumers and manufacturers c. Potential decline in Foreign Direct Investments (FDIs) due to some shifts in foreign capital In the global financial system d. Russia - Ukraine crisis which drove skyrocketing oil and food prices as well other commodities e. Prospects of a worldwide food shortage