DOF: Fiscal prudence aids PH in pandemic recovery

Philippine Finance Secretary Carlos Dominguez III says fiscal prudence has helped the country manage the economic impact of the pandemic better than other nations.

Despite having a smaller stimulus package compared to countries like Malaysia and the UK, the Philippines experienced lower economic contraction in the second quarter.

Dominguez emphasizes that the effectiveness of the stimulus lies in its quality rather than its size, ensuring support reaches critical sectors such as MSMEs and the poorest communities.

The DOF chief highlights the importance of balancing health measures with economic recovery to prevent public health crises caused by unemployment and reduced income.