Economic recovery - focus of AMRO consultations with the DOLE

Labor Assistant Secretary Dominique Rubia-Tutay served as a resource person during the 2022 Virtual Annual Consultation of the ASEAN+3 Macroeconomic Research Office (AMRO) on 24 February 2022 via Cisco Webex Videoconferencing Platform.

Asec. Rubia-Tutay shared current efforts of the Philippine government towards economic and employment recovery. The country’s prioritization of economic recovery is embodied in the National Employment Recovery Strategy (NERS) 2021-2022 being implemented by 20 member agencies constituting the NERS Task Force. She provided an overview of the various programs enrolled by government agencies in the agenda, ranging from employment facilitation, trainings, livelihood, and other assistance that can be availed by those affected by the pandemic, including those in the informal sector. For DOLE’s part, efforts to transition informal sector workers to the formal sector are constantly being undertaken, even prior the pandemic, with the Bureau of Workers with Special Concerns as lead.

Asked about the Department’s outlook for 2022 and the medium term, she mentioned that the return to pre-pandemic levels relies heavily on economic performance. Once the country’s GDP is back on track, the Department expects the labor market to follow, provided that the labor force is ready to take on the available jobs in the market. 

“Outlook for this year and beyond is generally positive, given the easing of restrictions on mobility and economic activities, diminishing severity of the COVID-19 virus, increasing vaccination coverage, and the changing trend worldwide on living with the virus or treating it as ‘endemic’,” she noted.

The AMRO is led by AMRO Lead Economist, Dr. Siu Fung (Matthew) Yiu, AMRO Director, Mr. Toshinori Doi, and Chief Economist, Dr. Hoe Ee Khor. The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization established to contribute towards securing the macroeconomic and financial stability of the ASEAN+3 region, which is comprised of 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. AMRO’s mandate is to conduct macroeconomic surveillance, support the implementation of the regional financial arrangement, the Chiang Mai Initiative Multilateralisation (CMIM) Agreement, and provide technical assistance to its members.

 

END/24 February 2022