NEDA’s 3-phased program to help economy recover faster

MANILA – The National Economic and Development Authority (NEDA) assured on Tuesday that the government’s measures and interventions on coronavirus disease 2019 (Covid-19) crisis will help the economy to recover faster.

During the Laging Handa briefing, NEDA Undersecretary Rosemarie Edillon said the Covid-19 pandemic and the enhanced community quarantine give downward pressure to the economy.

The government is implementing community quarantine from March 15 to April 30 to contain the spread of the virus.

With the enhanced community quarantine, many economic activities were halted.

But the national government’s three-phased program aims to ensure that the economy will not further suffer and bounce back quicker, Edillon said.

The first phase or the “response phase” includes ramping up the healthcare system’s capacity while introducing measures that will slow down the spread of the virus, such as implementing community quarantine, travel ban, school closure, and banning mass gatherings.

The second phase or the “mitigation phase” aims to help those affected by the enhanced community quarantine. Part of this stage is the provision of the social amelioration package to the country’s most vulnerable sectors.

Edillon said the government’s economic team is now planning for the third phase or the “transition phase” that will help the country in adapting to the “new normal”.

“We don’t know yet when this transition is, but our government –NEDA and other government agencies– are preparing policies and programs that will help us to transition to the new normal,” she said in Filipino.