MANILA, Philippines - President Aquino has ordered his economic team to closely monitor international economic developments and to craft measures that would shield the Philippines from the impact of a possible recession.
Deputy presidential spokesperson Abigail Valte said they are continuously implementing programs to mitigate the effects of the looming slowdown on the poor.
“The instruction of the President is to keep a close eye on what is happening globally. We have seen in the past few weeks the slowdown in other countries. We will watch closely what we can do and prepare so we won’t be affected by the slowdown,” Valte told state-run radio station dzRB yesterday.
Valte said the government already has programs to generate employment and to assist the country’s vulnerable sectors.
“Our (approach) is to create more jobs. Our CCT (conditional cash transfer) is still in place to help those who need it most,” the Palace official said.
“Our efforts do not stop there. The DPWH (Department of Public Works and Highways) and DSWD (Department of Social Welfare and Development) have tied up to launch the livelihood arm of CCT,” she added.
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