Yet, we’re confident that the economy will bounce back strongly within the near term. Amid the uncertainty, countries with decisive leadership and the right policy responses to the pandemic will be the economic champions in the post-COVID era. Based on what we have done so far, I am confident the Philippines will be among them.
There are three prerequisites for an economy to post a strong recovery. First is the ability to craft and implement measures that squarely address the crisis and its impact. Second is adoption of a unified and coordinated approach among concerned entities. And third is the recognition and seizing of opportunities behind the challenges. Let me briefly discuss each.