Rappler
Finance team says PH economy ‘can handle’ coronavirus effects
Economic managers in the Philippines are downplaying the potential economic impact of the 2019-nCoV, citing government measures and predicting only a short-term effect.
Socioeconomic Planning Secretary Ernesto Pernia believes the travel ban to certain countries may encourage domestic spending as Filipinos opt for local travel.
Pernia also suggested that increased sales of masks and soap due to health precautions could provide a boost to the economy.
Finance Secretary Carlos Dominguez stated that it is too early to quantify the economic impact, particularly on tourism, and assured that the country will not enter a recession due to the virus.
Dominguez noted that imports from China have already been declining due to the African Swine Fever, a trend likely to continue with the nCoV outbreak.
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