Palace hopes for economic rebound from coronavirus

By Prince Golez

Malacañang expressed hope that the Philippines will recuperate from the coronavirus disease (Covid-19) pandemic.

The government is banking on its “sound macroeconomic fundamentals” and “four-pillar socioeconomic strategy against Covid-19” for the nation to battle its way back to recovery, according to Presidential Spokesperson Harry Roque.

In a mid-year report released by the Palace Monday, Roque acknowledged that the pandemic is the “biggest problem” facing the country today.

“In our battle against Covid-19, we have gone from protecting lives and prioritizing public health over the economy to balancing the need to protect lives and livelihood as we strive to gradually bring the economy back,” the official said.

The Duterte administration, he added, put in place needed measures to help reduce the human and economic impact of the virus that has infected 80,448 Filipinos as of July 26.

“As the administration of President Rodrigo Roa Duterte enters its fifth year of governance, let us remain hopeful and look forward to our economic recovery,” said Roque.

“With the country’s sound macroeconomic fundamentals and with the current government’s four-pillar socioeconomic strategy against Covid-19 in place, we remain confident of our strength as a nation. As we begin to gradually settle in the new normal, let us heal together and recover as one toward a more resilient Philippines,” the spokesman also said.

Source: Latest Politics News Today (Politics.com.ph)