Given the uncertainty as to when the pandemic will subside, the estimated impact of COVID-19 on the domestic economy, in a worst-case scenario, is estimated to be between negative 1 percent and zero. The more upbeat scenario is a growth of between one and two percent. As you know the Philippines was in a strong position going into this pandemic.
The reforms we implemented in the past and our prudent management of the economy created fiscal and monetary space, which we are putting to good use as we address the challenges from COVID-19. Other countries are not as well positioned. We are taking an all-of-government approach to deal with the pandemic, with the primary focus set on addressing public health needs.