Secretary of the National Economic and Development Authority (NEDA) Karl Kendrick Chua (FACEBOOK/ MANILA BULLETIN FILE PHOTO)
Presidential spokesman Harry Roque said Chua has served the government “with professionalism, competence and integrity” and is expected to help propel the country’s economic recovery.
“With the aforesaid traits we are confident that Secretary Chua would continuously and consistently perform well in his present but crucial task of jumpstarting our economic recovery amid the COVID-19 pandemic,” Roque said in a statement Thursday, April 22.
“Congratulations to Secretary Chua and we wish him all the best,” he said.
Chua was named acting NEDA Secretary in April 2020 after then Socioeconomic Planning Secretary Ernesto Pernia quit the post over differences in development views with some Cabinet members.
Dr. Jun Ynares
As we go to press, President Duterte and the Cabinet are set to meet and discuss proposals from the country’s economic managers to put the entire country under Modified General Community Quarantine (MGCQ) status starting the first of March this year.
This follows days of intense debate played out in media. It was further fueled by an announcement by the Inter-agency Task Force on Emerging Diseases (IATF) that it was set to allow movie houses to open for business – a move strongly opposed by a number of local government officials including some mayors of Metro Manila.
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With esteemed financial practitioners and good friends, BDO Capital President Ed Francisco and ING Bank President Hans Sicat, I was recently asked to be a panelist in a
Philippine Daily Inquirer 35
th Anniversary forum. That question, the title of this piece, was posed by our moderator, Business Editor Tina Arceo-Dumlao.
Save for minor variations, we gave similar answers which I paraphrase thus: “Yes, we will see some bounce back, but largely due to base effects from the depressingly low level this year, and we won’t be seeing the Philippine economy back to 2019 levels until 2022 at the earliest. The recovery shape won’t be a V, may not even be a Nike swoosh or a U, but more like a ‘dirty L’ (Han’s depiction) with features of a K, uneven across industries, firms, and the populace.”