The Investment & Capital Corporation of the Philippines sees no debt crisis on the horizon. In his interview with ANC News ICCP President Valentino Bagatsing shared insights on how allocation and effective implementation are key to economic recovery.
According to Mr. Bagatsing there is enough money in the
market that has not moved yet due to lack of demand. In this regard balance sheet management is crucial to reinstate a healthy economy. He stressed that, “We are in a good place, the economic team has done a tremendous job in putting a fiscal space or cushion. It’s really a matter of being able to allocate effectively. It’s in the implementation that counts. You can throw all the money in the system but if the people are scared, demand is dry, it will be difficult to recover. So, a calibrated, communicated return to economic activity albeit in the new normal, people must feel safe about going out of their house and conducting their daily lives. That’s where we should really focus on “, in his parting words, President Bagatsing stays hopeful and optimistic that the Philippine economy can recover from the Covid-19 pandemic.
Watch full interview here: