Economic recovery

May 28, 2020

THE government, through the two-chamber Congress, is pushing aggressively for multi-pronged measures aimed at reenergizing the struggling economy brought about by the COVID-19 pandemic.

Last Friday, the “Defeat COVID-19 Committee,” co-chaired by House Speaker Alan Peter Cayetano and Majority Leader Martin G. Romualdez, approved three bills to restart the domestic economy.

One of the bills is the P1.3 trillion economic stimulus measure which is seen to ensure the availability of jobs and continuity of business for millions of people across the country.

Romualdez, a lawyer and banker by profession, said the various clusters of DCC have been working hard to address the economic meltdown gripping this impoverished Southeast Asian nation.

The United States-educated Romualdez, husband of Tingog party-list Rep. Yedda Marie K. Romualdez , was quick to emphasize that the three measures are not panacea to all the country’s problems.

But he described the approval of the three bills as “the next step in our calibrated response to ease the suffering of our people” as the deadly COVID-19 terrorizes millions of people throughout the world.

We agree with Romualdez that there’s that urgent need to jumpstart the economic activities “while keeping our people healthy the soonest time possible to ensure our survival as a nation.”

Upon motion of Lanao del Norte Rep. Khalid Dimaporo, the DCC approved the report of the economic stimulus response package subcommittee co-chaired by Reps. Joey Salceda, Stella Quimbo and Sharon Garin.

Indeed, the multi-pronged economic stimulus program will restore our economic growth, maintain employment levels and expand the country’s productive capacity.