What does “na-Duterte” mean? The phrase has been playfully used by administration supporters as a call-sign to the change this government has delivered.
The pandemic has been the perfect time to put this to the test. Is the “Duterte effect” what’s keeping the country afloat? Let’s find out.
The COVID pandemic was a shock for everyone, but the Philippines’ previous economic gains minimized the damage. Through a four-pillar socioeconomic strategy, the Duterte Administration acted quickly, supporting millions of Filipinos.
WATCH: The Country’s Pandemic Response and Recovery
They first provided emergency support for vulnerable groups, amounting to P506 billion. Second, they gathered medical resources to fight COVID totaling P58.93 billion. On top of all this, the government took monetary steps to keep the economy afloat, worth P1.41 trillion.
Lastly, they launched an economic recovery program to create jobs, wherein they spent P791.61 billion in total.
Bayanihan One focused on providing emergency subsidy amounting to P250 billion for over 3 million workers, and more than 18 million families.
The second Bayanihan Act was worth P165.5 billion, this time focused on strengthening the health sector while offering cash-for-work programs to displaced workers.
Vaccinating the Nation is the Solution
The government also allotted an initial P82.5 billion for COVID vaccine procurement alone. There is no other goal but to achieve herd immunity by vaccinating 70 million people within 2021.
Meanwhile, amid the pandemic, the CREATE Act was passed. This is the largest fiscal stimulus for businesses in recent history.
It provides P1 trillion worth of tax relief for private enterprises for the next 10 years. It also reduces the corporate income tax rate from 30% to 20% – an unprecedented amount of support from the national government!
The administration’s COVID response has so far amounted to P2.76 trillion – which is 15.4% of the country’s GDP. While the unexpected health crisis was a great financial shock to the government, the impressive reforms from the last 5 years helped the country respond to the pandemic quickly and decisively. And all the while, we have maintained our historic high credit ratings – a notable achievement in this time of crisis! Na-Duterte, indeed!