“Keeping the minimum wage low is what’s harming the economy. Why? Because we can’t buy the basic necessities in the market … A wage increase would therefore enhance the economy,” Adonis argued.
But Balisacan only reiterated an accepted economic truism that too much cash in any economy could lead to hyperinflation, like in Argentina, Venezuela and Lebanon. The National and Economic Development Authority chief also said the government’s priority was to increase the quality of jobs in the country and this was best accomplished by more investments.
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