The economy can bounce back and recovery stimulated only when jobs are recreated and more created in proper time instead of relying on dole-outs, according to Rep. Edgar Chatto on Labor Day. The observance of workers’ day on May 1 fell on the fiesta of Tagbilaran City in honor of patron St. Joseph, the Worker.
The fiesta came most untimely to homes and families of daily wage earners and lowly laborers who have been displaced as a collateral COVID-19 socio-economic damage. Bohol’s lone city, also the provincial capital, even closed its borders the whole day to avoid fiesta goer entry as gatherings stayed restricted due to the virus scare, although open establishment workers were allowed.
Chatto said, “government spending is very critical to pump-prime the economy as we experience an economic slowdown.”
The First District lawmaker is supporting the moves in Congress to bring the economy back to life, focusing on what he called “HEAL” for health, education, agriculture, and local roads and other infrastructure.
The HEAL focuses on sectors that matter most to countryside development and economic growth. While still governor, Chatto launched the “HEAT-IT Bohol” initiative which is akin to the HEAL, now being proposed in the House of Representatives as an economic stimulus strategy, and Gov. Arthur Yapโs current HEART program.
Public spending in focus sectors is critical as it creates jobs and livelihood that stimulate the economy and has significant levels of multiplier effects. Chatto said government support to the private sector in the same focus areas enables the micro, small and medium enterprises (MSMEs) to restart and create more work opportunities.
Nationwide, there are about 1.5 million registered MSMEs comprising 99.5% of all businesses—with the micro accounting for
88%; small, 10.6%; and medium, 5%.
Chatto said legislations are now being mulled in Congress to address these concerns.
CONGRESS TO RESUME
ONLINE TOMORROW
Congress will resume tomorrow, May 4, after a month-long lenten break, with its reopening session done online and having only a few members present at the House plenary hall.
Before the COVID-19, no unusual crisis or abnormal emergency had ever caused and forced Congress to a plenary session by teleconference.
Tomorrow’s online session will only be the second in the history of Congress since the videoconference of all its members to grant the president emergency powers for COVID-19 responses across the land. (Ven rebo Arigo)
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