REFORMS that enable structural transformation and strengthen human capital development are the foundations of a more resilient economy in a post-pandemic world, according to the National Economic Development Authority (NEDA).
"Focusing on the theme, 'Reset and rebuild for a better Philippines in the post-pandemic world,' this year's Development Policy Research Month challenges us to plan for a more resilient economy," said Socioeconomic Planning Secretary Karl Chua in his keynote speech during the opening program of the 7th Annual Public Policy Conference hosted by the Philippine Institute of Development Studies on Tuesday.
Chua said the government has enacted several reforms and invested in social services and infrastructure to enable proper structural transformation and strengthen human capital development of the country.
He cited for instance, the Rice Tariffication Law which lowers rice prices for all Filipino consumers, especially the poor, and enhances the productivity of rice farmers through the Rice Competitiveness Enhancement Fund.
"After the Rice Tariffication Law, rice ceased to be one of the top contributors to inflation and has been negative for most of the past 28 consecutive months since May of 2019. This allows the people, especially the poor, to more adequately meet their daily food and dietary needs, especially amid the pandemic," he explained.
Chua also highlighted the importance of accelerating the implementation of the Philippine Identification System or the national ID program to enhance the government's ability to deliver various social services.
He also noted that the national ID will enable Filipinos, especially the poor, to open bank accounts where they can directly receive cash transfers.
"The impact of the Covid-19 pandemic is challenging, but the Philippines has a solid foundation to recover at the right time. Reforms such as Rice Tariffication Law and the National ID are helping us restore our development trajectory and enabling the people, especially the poor, to access affordable food and better social services," Chua said.
