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UN tries to chart rebuilding effort

The gross domestic product contraction is the most severe that the country has ever experienced since World War II.



The Covid-19 pandemic has led to massive disruption of the economy and labor market in the Philippines and has also revealed vulnerabilities of sectors and firms dependent on foreign trade and intermediaries, the United Nations (UN) said.

UN, in collaboration with the International Labor Organization (ILO), the United Nations Development Program and the United Nations Industrial Development Organization scheduled a joint research on implementing an evidence-based Socioeconomic and Peacebuilding Framework (SEPF) in the Philippines.

The joint research contributes to the analysis of opportunities to diversify and upgrade the Philippine economy to generate productive employment that will make growth more inclusive.

Supply chains reviewed
It also explored strategies for strengthening and expanding the country’s industrial base, starting with an analysis of the product space, key supply chains, and the labor market.
Intensifying the capacity of the economy to create productive employment is a matter of urgency with an increasing working-age population, according to the report.
“This challenge is magnified by the formidable task of recovery from the Covid-19 pandemic. The gross domestic product contraction is the most severe that the country has ever experienced since World War II,” it added.

UN reviews priority
Findings of the joint research will further help the UN refocus priorities to target its support to the country, including its resources, to where it is most needed to mitigate the impact of the pandemic and to help the Philippines to remain on track to meet its development goals.

UN Philippines Resident Coordinator Gustavo Gonzalez will open the high-level discussion followed by a presentation of the joint research findings by ILO Director Khalid Hassan with key inputs from UNDP and UNIDO.

Ndiame Diop, Country Director of the World Bank, Ruben Pascual, Secretary-General of the Philippine Chamber of Commerce and Industry, and Undersecretary Rafaelita Aldaba of the Department of Trade and Industry will give their insights in an interactive panel discussion moderated by Ms Karen Davila, Broadcast Journalist and Mr John Alikpala, UN Philippines Economist.