In-person classes will allow GDP to grow by 8%–PCCI
The Philippine Chamber of Commerce and Industry (PCCI) said Tuesday that the resumption of face-to-face classes would allow GDP to grow by 8 percent in the second half.
“GDP is likely to grow by 6 to 6.5 percent within the second half of this year; and 8 percent growth may even be attainable if face-toface classes were to resume,” Ferdinand A. Ferrer, head of PCCI’S Digital Innovation and Science and Technology Committee, said in his speech during the media launch of the 48th Philippine Business Conference and Expo (PBC&E) in Manila.
PCCI President George T. Barcelon said appointing a health chief, who would lay the groundwork for a safe return to schools, would ensure the smooth transition to faceto-face classes.
“I’d like to think that the Secretary of Health, once he gets onboard, this is one of the immediate concerns that he has to put in place,” said Barcelon.
Last week, in preparation for the plan, Marcos Jr. said they would be discussing the vaccination policy for students.
Currently, students could attend limited face-to-face classes even without getting a Covid-19 jab.
He noted that they are encouraging younger people to avail of booster shots amid incidents of Covid-19 Omicron variant cases across the country.
The President, last week, emphasized that they will reinstitute the vaccination drive so that “we can at least feel safer when the children go back to school”.
Cabinet meeting
THE government’s budget for next year, pending infrastructure and transportation projects, and addressing the jobs mismatch were the highlights of the second Cabinet meeting held last Tuesday in Malacañang.
President Ferdinand R. Marcos, Jr. led the meeting virtually since he is still under isolation after testing positive for Covid-19 last week.
Marcos is expected to complete his prescribed 7-day isolation period this week.
Solicitor General Menardo I. Guevarra said the meeting was held from 9 a.m. to 2:25 p.m. at the premier guest house inside the Malacañang complex.
He noted the agenda of the second Cabinet meeting was heavy and focused on the economic agenda of the administration.
During the event, Press Secretary Beatrix Cruz-angeles disclosed that the Department of Budget and Management (DBM) presented the details for the proposed 2023 national budget.
She said the administration will be using its budget for next year to promote “broad-based and inclusive economic recovery and growth.”
Other government agencies, which made presentations in the meeting were the Department of Public Works and Highways (DPWH) for its “infrastructure convergence projects,” and the Department of Transportation (DOTR) for its priority initiatives.
Jobs-skills mismatch
ALSO discussed in the meeting, Angeles said, were how to address the job-skill mismatch amid the so-called 4th industrial revolution which would result in the automation of more jobs.
She said Marcos wanted the existing curriculum to be updated so graduates could cope with the new skills demands in the labor market.
“That is why we have to look at the curriculum as well. Not only of TESDA [Technical Education and Skills Development Authority], but also even our diploma courses,” Marcos said during the meeting.
Trade Secretary Alfredo E. Pascual said the government is trying to bridge the gap between the curriculum and the demands of industries through the development of “micro-credentialing systems,” wherein students will undergo short courses for specific skills.
“We’re developing or helping universities develop this system of micro-credentialing because technology is changing very fast. There is a need for workers to update themselves, to reskill or upskill,” Pascual said.
He said they are collaborating with the Department of Education, Commission on Higher Education for the said initiative.