Economic Team, BSP meet on disaster rehab

BAGUIO CITY -- The Economic Team led by Finance Secretary Margarito Teves and the Bangko Sentral ng Pilipinas (BSP) held an economic briefing here Monday at the Forbes Ballroom of the Baguio Country Club, the Investor Relations Office said.

The Economic Team was comprised of the Secretaries of the Departments of Budget and Management, Trade and Industry, Agriculture, Energy and the National Economic Development Authority.

The briefing focused on post-disaster rehabilitation attended by around 100-150 industry and business leaders and select key local government officials.

Finance Secretary Margarito Teves gave updates on the programs for relief and rehabilitation.

Teves is also the Chairman of the Special National Public Reconstruction Commission tasked to undertake the rehabilitation plan for damaged infrastructure and oversee its implementation.

A BSP official spoke on impact of calamities on BSP sectors and the Bank’s measures in support of rehabilitation.

Meanwhile, NEDA Regional Director Juan Ngalob focused on regional growth outlook and the plans to rehabilitate the region.

“This is part of the government’s efforts to convey to the people that it has a concrete plan to rehabilitate affected areas to enable it to bounce back following the aftermath of the typhoons,” IRO Executive Director Claro Fernandez said.

He added the briefing was good venue for the Baguio business community to interact and raise their concerns directly to the Economic Team.

Baguio City is the second of seven cities that the Economic Team and BSP officials visited over the course of the month as a part of the Government’s efforts to share with local business communities how the government is addressing challenges arising from the recent calamities and discuss plans and programs for the remaining six months of the Administration. The delegation will also visit Laguna, Laoag, Clark, Cebu and Davao.