The National Economic and Development Authority on Thursday unveiled its proposed recovery plan from the COVID-19 crisis that will make it easier for the economy to bounce back starting next month.
After the"emergency stage" from March to May – or when the government focused on limiting the spread of COVID-19 and providing cash aid to millions of workers displaced by the lockdown – the strategy will shift towards the"recovery stage" by June to December, where the priority will be on income and job restoration.
Micro-businesses usually have a hard time borrowing from commercial banks as their small operations make them a risky investment. Funds will also be infused into the Philippine Guarantee Corporation, which will allow the institution to vouch for loans made by small and medium-scale enterprises, Dominguez added.
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