As of August 24, 2020, 6:00 PM, Vice President Leni Robredo delivered a recorded speech on her recommendations for economic recovery amidst the COVID-19 pandemic.
- Over the past few weeks, VP Robredo met with several researchers, analysts, professors, and other experts on the economy on how the country can move forward amidst the pandemic. Shen then shared their insights and recommendations on how the economy can recover from this crisis and what all these mean for the nation.
- Confidence was a theme that repeatedly came up in their meetings, as it encompasses the pandemic and its effects on our economy together.
- She said people are keeping their savings in check because they are unsure of how long this situation will go on.
- She added that businesses are thinking twice about reopening because they have little confidence in earning enough to survive, on top of the concern their employees might get infected.
- VP Robredo pointed out that amidst all these, cases of infections are increasing exponentially, and the situation is getting worse.
- Only the government can extend a lifeline to the economy as it has the resources and machinery to do things at a significant enough scale. She added that the discourse on economy should not revolve around whether to impose a lockdown or not.
- She mentioned that the provisions indicated and the funds allocated under Bayanihan 2 are not enough. The government must spend more efficiently and quickly, with the utmost urgency because the country’s economic survival depends on it.
- VP Robredo enumerated the following recommendations:
- Come up with a comprehensive, quick, and clear plan to address the pandemic. She emphasized that healthcare and the economy are not in conflict with each other.
- There is a need to go above and beyond to support and value medical frontliners and hospitals, and to strengthen our national healthcare system. This must be supported by efficient and rapid data gathering and evidence-based decision making.
- A clear and efficient Standard Operating Procedures must be in place for the admission of COVID-19 patients in facilities.
- Technology must be used to make contact tracing faster and more efficient, as effective tracing apps are already available.
- Harmonize cash for work programs to address COVID-19 response needs. If this can be accomplished, contact tracing capabilities can be strengthened, and the spread of COVID-19 can be abated.
- Ensure that those who lost their livelihoods do not fall into poverty. This can be accomplished by creating an unemployment insurance system.
- Empower businesses to shift their products, services, or business models towards addressing needs brought about by the pandemic.
- Push for a large-scale program to help small and community-based businesses acquire an online presence.
- Ensure support for Micro, Small and Medium Enterprises (MSMEs) and other small business owners. Apart from the unemployment insurance system, there should be a budget allocated for wage subsidies to companies that ensure they won’t retrench their employees.
- Develop reintegration and livelihood programs for Overseas Filipino WOrkers (OFWs), on top of coordinating with embassies abroad to help our countrymen get back to work.
- Prevent hunger by extending financial assistance to the most vulnerable communities.
- Focus on strengthening sectors that help provide food on the table — supporting farmers, fisherfold, and livestock raisers.
- Address income inequality. There is a need to match the wage of employees to their contribution to society, and ensure that they receive sufficient support.
- Better digital infrastructure. The wider the access to the internet, the more people can attend online classes or participate in the economy, and the more technology can become an efficient tool for nation-building.
- VP Robredo emphasized that confidence keeps the economy rolling.
- In closing, VP Robredo called everyone to action: widen the reach of empathy and direct all actions towards other countrymen. She said that the Philippines has a long history of emerging triumphant over challenges like this, that Filipinos are strong of spirit, and open-hearted. Everyone needs to step up to the plate, help each and other and carry one another.