Duterte concerned over state of PH economy: Palace

MANILA – President Rodrigo Duterte has expressed concern over the current state of the Philippine economy which was badly hit by the coronavirus disease 2019 (Covid-19) pandemic, Malacañang said on Tuesday.

In a virtual press conference, Presidential Spokesperson Harry Roque said Duterte is aware that his administration needs to pursue more economic stimulus measures to revive the country’s economy.

“Talagang nababahala na rin po ang ating Presidente na kinakailangang makabangon na tayo sa lalong mabilis na panahon (The President is really concerned and he knows that we need to recover in soonest time possible),” Roque said.

The Philippine economy shrank a record 9.5 percent in 2020, the worst economic performance since after World War II, based on the data released by the Philippine Statistics Authority last month.

Due to the economic crash triggered by the Covid-19 pandemic, Duterte held an “unscheduled” meeting with Finance Secretary Carlos Dominguez III, Roque said.

Duterte and Dominguez, he said, discussed ways on how to reboot the Philippine economy.

“He (Duterte) just wanted further briefings on the economy and ano yung mga hakbang na gagawin para nga tayo po ay makabangon dito (what needed measures for our recovery),” Roque said.

On Feb. 1, Duterte assured Filipinos that his administration is doing its best to keep the Philippine economy afloat after it contracted by a record 9.5 percent in 2020.

Duterte made the vow as he admitted that the country’s economy is “sinking deeper and deeper” into recession amid the strict quarantine and health protocols due to the pandemic.

Duterte’s economic managers have expressed optimism that the Philippine economy will recover this year as the country aims to start its mass vaccination program this month.

‘About time’ to relax quarantine status

Earlier, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) approved the proposal to allow people as young as 10 years old to go out to avoid economic deterioration.

Duterte, however, overturned the IATF-EID’s decision, saying children aged 10 and below must stay home as the new Covid-19 variant reached the country.

Trade Secretary Ramon Lopez, who joined Roque’s press briefing said, the economic team would propose to Duterte the further reopening of the economy.

Lopez believed it is “about time” to relax the quarantine measures imposed in the country.

“We will make the proposal to deescalate, to relax [quarantine status]. It’s about time,” he said.

Lopez was also confident that easing restrictions by March would be considered, given that the situation in the country is already “stable.”

“‘Yung pagpapaluwag, I think it’s something we can really consider even next month kung kakayaning magtuluy-tuloy pababa. Remember, kaya lang po tayo nag-pause sandali, dahil nga dito sa new variant na pumasok (On the relaxation of community quarantine, I think it’s something we can really consider even next month if the number of Covid-19 cases in the country will decline. Remember, we just paused because of the new variant),” he said.