The Nationwide Financial and Improvement Authority (NEDA) mentioned the agricultural areas are minimally affected by the pandemic in comparison with bigger cities like Metro Manila and Cebu.
As such, Appearing Socioeconomic Planning Secretary Karl Kendrick T. Chua mentioned the federal government will ensure that the city poor and people severely affected will get precedence help.
“The pandemic is largely affecting urban areas where the larger cities, like Metro Manila and Cebu, tend to have more cases and that is why we imposed the [enhanced community quarantine] ECQ and now the GCQ [general community quarantine],” Chua mentioned.
“This indicates that the impact on the rural areas is minimal, if at all. So, we are going to make sure that the urban poor and those affected by the quarantines will get the support that they need to prevent further deterioration,” he added.
Chua additionally mentioned that the restoration and the sorts of jobs that shall be out there will largely depend upon private conduct and the individuals’s potential to apply minimal well being requirements.
“Right now we are seeing a gradual recovery of the economy and employment has bounced back significantly. There’s a lot of uncertainty but the general direction is that we are going to see more opening up of the economy and we are going to make sure that people who are not able to work will be supported,” he mentioned.
Chua mentioned that authorities interventions by the not too long ago enacted Bayanihan Act II, which incorporates cash-for-work packages, emergency subsidies, funds for the micro, small, and medium enterprises by the banking sector, amongst others, will assist help financial restoration.
“The real solution here is to open as much of the economy in the safest possible way. The government is proposing a higher budget next year. We are going to put PhP1.12 trillion in infrastructure that will create around 1.5 million jobs,” Chua mentioned.
“Next year, we are expecting unemployment to reduce further to between 6-8 percent from the 10 percent that we see now, and the economy growing between 6.5 to 7.5 percent. That will limit the impact on the people,” he mentioned.
Chua additionally famous that when it comes to getting again on monitor to lowering the poverty incidence within the nation, the tempo can even depend upon when the vaccine shall be out there, in order that we will absolutely open the financial system.
“We achieved a significant gain in our poverty reduction effort. In 2016 we promised to reduce the number of poor people by around 6 million by 2022 and we achieved almost that number four years ahead of schedule in 2018. As of 2018 our poverty rate has gone down from 23.5 percent in 2015 to 16.7 percent in 2018,” Chua famous.
SIGN UP TO DAILY NEWSLETTER
CLICK HERE TO SIGN-UP