PCCI sees economic recovery in six to eight months

June 13, 2020

The Philippine Chamber of Commerce and Industry (PCCI) projected that the  economy may recover in six or eight months.

''We have suggestions for them for example to the restaurants… they cannot open now but on June 15, dine-in will be allowed. All them now are looking for a system so that they can increase revenue so they have home delivery business. I understand that it is growing very very quickly,” said Ambassador Benedicto Yujuico, PCCI president in a virtual public briefing on Saturday.

“We have a lot of suggestions to them because we said you should do all the innovation because eventually we will recover... The idea is you stay alive in six months or eight months, the economy will recover,” he added.

Yujuico  said many small and medium sized enterprises received assistance offered by the Department of Finance under the Small Business Wage Subsidy Program, but he also admitted that this is still not enough.

“It is not enough.  I’ll just give you some numbers… Our small businesses totalled to 1.3 million. The loan that were already given by the SB (small business) corporation so far is 110,000 pesos so more loans should have been provided for the small businesses,” he said. Robina Asido/DMS