Finance Secretary Carlos Dominguez III is seeing bright economic prospects amid the government’s recovery support for businesses heavily impacted by the pandemic.
“There is much to be optimistic about the outlook of our economy even as we continue to grapple with the pandemic,” Dominguez said Friday at the close of the two-day 29th Metro Manila Business Conference.
Our country is “well on its way to a solid rebound,” he told the MMBC participants at the virtual conference. “I am confident that our partnership will be even stronger as the Philippines blazes the path to sustainable and inclusive economic recovery.”
Dominguez said the government has infused additional capital into state financial institutions to enable them to provide low-interest loans to MSMEs, and fine-tuned fiscal and monetary policies to encourage banks to lend to pandemic-hit enterprises.
The institutions include Land Bank of the Philippines, Development Bank of the Philippines and Philippine Guarantee Corp.