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NEDA: PH economy can return to pre-pandemic level this year

QUEZON CITY, (PIA) -- The National Economic and Development Authority (NEDA) believed that the Philippine economy will return to its pre-pandemic growth this year as the government has made a significant progress in recovering from the onslaught of COVID-19 pandemic.

In a press statement on Monday, Socioeconomic Planning Secretary Karl Kendrick T. Chua noted with the zero-to-ten point socioeconomic agenda under Executive Order (EO) No. 166, the administration is committed in accelerating and sustaining economic recovery despite the crisis.

“Without a doubt, the pandemic and its adverse economic impacts are indeed testing the Philippine economy like never before. But unlike past crises, the Philippines has solid fundamentals to address this crisis,” Chua said.

The EO No. 166 adopts the Ten-Point Policy Agenda to sustain and accelerate economic recovery, and to drive broad-based expansions across various productive sectors. It includes strategies such as further reopening the economy and reducing restrictions on Domestic and International Travel.

“All of the things we are doing in the Duterte administration are about bridging the future. And these reforms that we have been doing are exactly what needs to be done so that we can impart a better future to the next generation,” Chua added.

Chua emphasized the government are vigorously pursuing the economy’s full recovery to restore jobs and bring more people out of poverty.

Meanwhile, Chua enumerated some of the administration’s notable achievements since 2016 such as the Retail Trade Liberalization Act, Foreign Investment Act, Public Service Act, Comprehensive Tax Reform Program and the Rice Tariffication Law. (JAFD/PIA-IDPD)

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Jastine Angelo Don

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Central Office

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