Long-drawn-out pandemic a key risk to PH economy

Long-drawn-out pandemic a key risk to PH economy

The possibility of a long-drawn-out pandemic is one of the key risk factors that could derail the Philippines’ recovery from its deepest economic slump in recorded history—a risk that could be mitigated by emphasis on better government measures, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno.

“Nonetheless, improved stra­tegies to strengthen the health sector, the passage of Bayanihan Act 2 and other legislative measures to support the economy, and targe­ted social reforms and sustained implementation of infrastructure program, will help smoothen and balance the road to recovery,” the central bank chief said.

To date, BSP has pumped in an estimated P1.3 trillion into the local economy through a slew of measures since the pandemic began in March.

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