On the Bad Shape of the Philippine 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.
A classic example is the NEDA’s recommendation to the President to allow children 10 years old and above to go out of their homes with their parents, as NEDA studies show 50 percent of the economy is driven by family activities outside their homes.
It was a very sound NEDA suggestion that was initially given due course but recalled immediately, instead of first considering a middle ground that would have accomplished both – like closely supervised or monitored family outings.
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. 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.