Philippines Has Ample Fiscal Space to Fight Virus: Economic Planner

The video discusses the economic contraction in the Philippines due to various shocks, including the pandemic and natural disasters. It covers the government's response, including fiscal measures, tax reductions, and infrastructure spending to stimulate recovery. The video also addresses unemployment, social support, and plans for equity infusion in strategic industries like tourism.

What were some of the shocks that led to the economic contraction in the Philippines in 2020?

• A volcanic eruption and a pandemic

• A financial crisis and a drought

• A political scandal and a trade war

• A technological failure and a natural disaster

What is one of the government's strategies to stimulate the economy as mentioned in the second section?

• Raising interest rates

• Cutting public spending

• Reducing corporate taxes

• Increasing corporate taxes

What fiscal position did the Philippines start with in 2020?

• A significant budget deficit

• One of the brightest fiscal positions in its history

• A low revenue-to-GDP ratio

• A high debt-to-GDP ratio

How does the government plan to address low domestic demand according to the third section?

• By restoring confidence in the economy

• By increasing exports

• By reducing healthcare spending

• By cutting wages

What was the unemployment rate in the Philippines in January 2020?

• 8%

• 7.5%

• 5.3%

• 10%

Which industry is identified as one of the hardest hit and a candidate for government support?

• The agriculture industry

• The technology industry

• The manufacturing industry

• The tourism industry

What is the government's approach to supporting strategic firms during the crisis?

• Providing unconditional grants

• Creating joint ventures with time-bound conditions

• Offering tax holidays

• Nationalizing the firms