EVEN the country’s economic managers have expressed concerns over the brewing skirmishes in Marawi City saying the ongoing unrest is a “serious crisis” that could have adverse impact on the economy.
Socio-economic Planning Secretary and NEDA chief Ernesto M. Pernia said that although the country’s economic fundamentals remain strong and resilient, the crisis may drag down the gains that the country had lately achieved.
He said that its impact its impact on the economy would largely depend on how things pan out.
In a statement, Pernia urged for a quick resolution to the Mindanao crisis stressing that threats to security derail progress and impact on the quality of life of Mindanaoans.
The terrorist Maute Group attacked Marawi City Tuesday last week prompting President Duterte to declare Martial Law in Mindanao.
“We trust the President and his security officials to do what has to be done to restore peace and order and protect our fellow Filipinos in the South,” Pernia said in a statement. NEDA provides high-level advice to policymakers in Congress and the Executive Branch.
Pernia has emphasized that economic growth cannot be sufficiently sustained nor be inclusive without peace. Thus, achieving peace, security and public order is considered a bedrock strategy under the Philippine Development Plan (PDP) 2017-2022.
Nonetheless, he said, the economy remains stable given its strong fundamentals.
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