CAGAYAN DE ORO CITY – A national recovery program that’s in the works is eyeing a balanced and whole-of-society approach to restarting the economy amid the COVID-19 pandemic.
During the 13th Economy Task Group video conference on 15 September 2020, National Economic and Development Authority (NEDA) Undersecretary for Policy and Planning Rosemarie G. Edillon updated the body on Recharge Philippines (Recharge PH) a program formulated by the agency-led Task Group on Recovery to manage economic recovery and address uncertainties caused by the public health crisis.
Edillon said Recharge PH is focused on engaging all of society in implementing Anti-COVID-19 strategies which restart social and economic activities. Sub-Task Groups are assigned to oversee Economic Recovery, led by the DTI, Social Recovery (DSWD), and Governance (DILG).
On characterizing the “new normal,” the Task Group on Economic Recovery anticipates changes in demand especially in household expenses. There is a foreseen increase in demand for health products, disinfectants, face masks, internet solutions, electronics, utilities, and bikes or motorbikes, while household demand for durables, non-essentials, tourism, and travel is expected to dip.
As for government and overall world demand, there will be greater need for digital connectivity, electronics, health care, social protection, and even business process outsourcing, and a matching lower demand for office space.
“A health crisis requires a health solution,” said Edillon. The core of Recharge PH is to reduce COVID-19 transmission and non-COVID-19 deaths while restarting social and economic activities.
The plan is set for implementation by the end of 2020 to 2021 and will be incorporated in the Philippine Development Plan 2017-2022 Midterm Update. Meanwhile, the presented action steps will undergo refinement to consider the woes of the transportation sector.*