eport released Tuesday.
“At the same time, one cannot overemphasize the importance of improvements in public health management including testing, tracing, isolating, and treatment to effectively control the spread of COVID-19 and secure a definitive recovery," Diop added. The National Economic and Development Authority earlier said it would hasten the rollout of the national ID system, which should pave the way for a faster and effective cash aid distribution. Digital cash aid distribution is also likely to curb corruption, Finance Secretary Carlos Dominguez earlier said. The Philippine economy could contract by 6.9 percent this year before rebounding to 5.3 percent in 2021 and 5.6 percent in 2022, the report said.
"The assumption is that we will continue the gradual reopening of the economy and COVID is managed and we don’t see another spike that would trigger another reversal in lockdown," Qian said.
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