Quote from: abhiseshakana on Today at 06:13:20 AM

https://www.visualcapitalist.com/the-road-to-recovery-which-economies-are-reopening-covid-19/

Good read nonetheless but it's a two-month old article so I'm not sure if the data used there is updated. I guess not because PH is still under "Low mobility, Low recovery" group. Our recovery rate spiked since IATF recently adopted the new method for classification suggested by DOH in its memorandum. When it comes to mobility, things were slowly going back to normal but another two weeks of MECQ starting tomorrow will slow down mobility again.

Quote from: abhiseshakana on Today at 06:13:20 AM

The majority of countries in Southeast Asia such as the Philippines, Indonesia, Malaysia, Singapore are predicted that if it cannot boost the economy in Q3, the potential for depression is more apparent. The problem faced by the Philippines government and the majority of countries in Southeast Asia affected by corona is the lack of liquidity, so each sector can calculate but there is no money in the safe. Like a weapon ready in the cock but the bullet is not there.

Not that it's completely out of bullets since other projects (particularly infra) are still being pushed but yeah, the funds were stretched to its limits when the Government realligned/reallocated funds and then spent₱275 billion as initial COVID-19 response (Bayanihan to Heal as One Act). Right now, there's another bill (Bayanihan to Recover as One Act) that will allow the Government to set another ₱140 billion for socioeconomic and health programs.

Quote from: abhiseshakana on Today at 06:13:20 AM

The government also widened the budget deficit caused by rising costs of national economic recovery due to pressure from the pandemic. With this condition, the government also took various steps to be able to finance the deficit needs. This is because current state revenues are also incapable because they are under pressure. The solution taken is generally through foreign loans because it is considered easier and cheaper than issuing state securities. Though often poor debt management and cause new problems later on.

As expected, state revenues won't be enough due to limited mobility.

As to the foreign loans acquired and how it might be utilized, the Government managed to bring down the national debt prior to COVID-19 which also resulted to the country's improved credit rating. I trust our economic managers can continue to build on that.

I'm eager to see what's the country's GDP this second quarter. It's expected to be larger than first quarter's -0.2 percent. In an article, another economist predicted it to be at a -6.3 percent while the succeeding two quarters are projected to be at -5.8 percent and -3.5 percent, respectively. Not good to see the negative there but it's still a recovery. Next year's growth is projected at 3.5 percent, 5.7 percent, 5,8 percent, and 4.5 percent for the first to fourth quarters.

I do hope the stimulus bills such as Corporate Recovery and Tax Incentives for Enterprises (CREATE Act), which reduces corporate income tax, will be passed soon for the Government's Four Pillar Recovery Program to be fully implemented.