Economic Impact on Regional Businesses
Effort should be concentrated on re-establishing demand,
supply, and financial channels and helping firms adjust to the
normal by improving firm capabilities.
•
The Government of the Philippines is currently considering additional measures to further support the Philippine
firms through tax reductions and expanding access to new loans.
• Future government support should also note that the new normal is characterized by high uncertainty, which can
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make access to finance programs less effective as firms are less willing to borrow, and banks are hesitant to lend.
Clear communications and consistent messaging about community quarantine measures on business operations
in a timely manner will be crucial to reduce firms' uncertainties about the future.
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