Farmers plant rice seedlings | STOCK PHOTO MANILA, Philippines — President Ferdinand Marcos Jr. on Friday signed the New Agrarian Emancipation Act of 2023, condoning the P57.557 billion debt of 610,054 farmers. The law specifically condones the unpaid amortization, interest, surcharge, and penalties of existing loans of farmers tilling nearly 1 million hectares of land. The farmers are agrarian reform beneficiaries under the Comprehensive Agrarian Reform Program (CARP). 'Sa ilalim ng mga batas agraryo, ang bawat magsasaka ay may utang na katumbas ng halaga ng lupang binigay sa kanila.

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