Duterte signs economic recovery EO
Philippine President Rodrigo Duterte signed Executive Order (EO) No. 166 to implement a 10-point policy agenda aimed at accelerating the country’s economic recovery.
In a public copy released yesterday, EO 166 stated that there is an “urgent need to adopt policies on economic recovery to sustain current economic gains, minimize the pandemic’s long-term adverse effects, and restore the country’s development trajectory.”
Recommended by the Economic Development Cluster, the economic order includes strengthening the healthcare sector and vaccination programs in the Philippines.
Additionally, it also tackles the further reopening of the economy, expansion of public transport capacity, resumption of face-to-face learning, and boosting the local tourism industry.
The government is also pushing the creation of laws that would help accelerate digital transformation in the country.
Last year, the Philippine economy recorded a 5.6% growth, recording a significant rebound from the 9.6% contraction in 2020.
Economic managers are hoping to reach a seven to nine per cent Gross Domestic Product Growth this 2022.
