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Rep. Salceda trusts PHL economy can recover in 2021

Albay District Rep. Jose Sarte Salceda, chairperson of the House Committee on Ways and Means (Photo Credits: congress.gov.ph)

Albay District Rep. Jose Sarte Salceda, chairperson of the House Committee on Ways and Means, trusts that the Philippines can recover from the effects of the 2019 Coronavirus Disease (COVID-19) in 2021.

Kung dati ay 100, bumagsak tayo ng seven percent, 93 na lang. Maibalik mo lang sa dati. Dati ka ng lalaki ng nine percent, from 93 back to 100. Ibalik lang natin sa dati. Kayang-kaya,” he said on Sunday, October 18, during DZRH’s Maynila Ito Ang Pilipinas.

Salceda said that the Philippines can be aggressive in bringing back the economy but warned that some countries have experienced a second wave of new COVID-19 cases.

The congressman stressed that a second surge of COVID-19 cases will have economic implications to the Philippines.

Siyempre mas gusto natin ng mas mabilis pero tinatantiya natin. Katulad ng Europa ngayon, nag-sesecond wave, ang US (United States) mukhang nag-sesecond wave,”¬†Salceda said.

Pwede kasi natin na buhusan, mangutang kasi lahat naman ng gobyerno sa mundo nangutang na nangutang. Pero sa sunod na second wave, baka wala na silang pangtustos,” he added.

The Philippine economy contracted by 16.5 percent in the second quarter of 2020, and plunged into a technical recession amidst the COVID-19 pandemic.

The International Monetary Fund, however, expects the Philippine economy to grow by 7.4 percent by 2021.

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