Economy in bad shape? Ping says this is what needs to be done

While the Philippine economy is indeed in bad shape, authorities can address it with the right policy decisions that would balance economic and health concerns, Sen. Panfilo Lacson said Tuesday.

Lacson said that while our economy is already in bad shape, it is made worse by the “difficult choice” of addressing health-related problems and the sinking economy.

“The Philippine economy is definitely in bad shape, made even worse by the difficult choice between addressing health-related problems and the sinking economy,” he said in a statement.

He cited as a “classic example” the National Economic and Development Authority’s recommendation to the President to allow children 10 years old and above to go out of their homes with their parents.

Citing NEDA studies, he noted 50 percent of the economy is driven by family activities outside their homes.

But while the NEDA suggestion was sound and initially given due course, it was recalled immediately, instead of first considering a middle ground that would have accomplished both – like closely supervised or monitored family outings, Lacson said.

“Policy decisions play a vital role in striking a balance between long-term implications on the economy and the immediate effects on our people’s health concerns,” Lacson pointed out.

“The right decisions will chart our path towards a sustainable ‘new normal,’ pull us out from pits of social and economic distress, and shape a safer and more resilient society,

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