Philippine government develops economic plan

novel coronavirus pneumonia cases in Philippines have been confirmed in more than 147 thousand cases as of August 13th, the largest number of confirmed cases in Southeast Asia. Meanwhile, in the second quarter of this year, the Philippines’ GDP fell by 16.5% year-on-year, the largest quarterly decline since records began in 1981. As the country with the largest number of confirmed cases in Southeast Asia, the Philippine government has decided to re blockade the capital city of Manila and its surrounding four provinces from August 4, and implement the “improved version of enhanced community segregation” policy in these areas. In order to solve the difficulties faced by regional governments, on August 12, the Philippine government decided to appoint cabinet officials to take charge of the surrounding provinces and cities and strengthen the cooperation between the central government and local governments. In the second quarter of this year, the Philippine GDP fell by 16.5% year-on-year, the largest quarterly decline since records began in 1981. To boost the economy as soon as possible is a problem that the Philippine government must solve. Ramon Lopez, Minister of trade and industry of the Philippines, said the government had drawn up plans for economic recovery, such as a package of mechanisms to stimulate the development of small and medium-sized enterprises. The government is also carrying out some necessary structural reforms to attract more investment. At present, the Philippine economy is better than before. < p > < p > Philippine Minister of trade and industry Ramon Lopez: in fact, when we restart the economy, we have seen some positive signals that can slow down the economic downturn, such as exports. We hope to increase our export to China. China is definitely our biggest trading partner and has a huge market. Therefore, we hope that exports to China can rise rapidly, which is the first light we will see in the future. Huang Zhengzheng: how to find a balance between epidemic prevention and control and economic restart is a major challenge facing the Philippine government. From now on, the central administrative departments and local executive agencies have taken full action, which is expected to ease the epidemic situation as soon as possible and bring confidence to the revitalization of the economy.