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Philippines expects minimal economic impact from Israel-Hamas war


NEDA Secretary Arsenio Balisacan said the ongoing conflict between Israel and Hamas is unlikely to significantly affect the Philippine economy unless it extends to major oil-producing nations. During a televised briefing in Manila, Balisacan mentioned his recent discussion with President Ferdinand R. Marcos Jr. about the war’s potential economic repercussions. He emphasised the negligible influence on supply chains and a slight oil price hike, but said any expansion of the conflict could pose greater risks. Balisacan also highlighted the Philippines’ limited involvement with both Israel and Palestine. Despite this, preparations are underway to repatriate overseas Filipino workers from Israel if needed, with the Department of Migrant Workers already receiving 22 repatriation requests by October 12.

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