NEDA’s Chua backs return of students to campus
THE PHILIPPINES could post “strong growth” in line with the official target of 6% in the next two or three years even though much still needs to be done to effectively manage the coronavirus crisis, including playing catch-up on education, Socioeconomic Planning Secretary Karl Kendrick T. Chua said at his confirmation hearing Wednesday.
“I have no doubt that if we do three things: number one, do not be too risk averse; number two, implement the recovery program; number three, accelerate vaccination, it is possible to achieve 6% growth or even higher next year,” he told the Commission on Appointments.
The Development Budget Coordination Committee last month downgraded the gross domestic product growth target to 6-7% from the 6.5-7.5% estimate issued in December.
Mr. Chua, however, noted that some actions taken during the crisis may have long-term effects that need to be corrected, such as the lack of face-to-face classes for students, which can affect quality of learning and future productivity.
“With COVID in the next two or three years we can continue to see strong positive growth, but to be sustainable and achieve our 2040 Ambisyon Natin (medium-term plan), we really have to do much more to recover lost ground and to restore the productivity of the people,” he said.
Mr. Chua also recommended a risk-management approach while stepping up vaccinations to permit on-site schooling to resume and to allow families to spend time out of the house in open spaces.
He noted that the Philippine median age is 24, while 40% are 18 years old and under.
“Based on our computations at NEDA, 50% of non-essential spending is driven by family. And this is why the economy (is performing) as you see it,” he said.
Mr. Chua said allowing pilot face-to-face classes was previously approved but was withdrawn following the emergence of more contagious COVID variants in the Philippines.
“In hindsight it was the right decision because pagdating sa March (at the onset of March), we saw a spike (in COVID infections). Now we are going back (down), so we are making that recommendation again,” he said.
About 5.2 million coronavirus vaccine doses have been administered as of May 30, with 1.2 million individuals fully vaccinated, according to the Health department. — Vann Marlo M. Villegas
