Assessment of the Socio-economic Effects of COVID-19 and Containment Measures on Philippine Enterprises

The COVID – 19 pandemic has left very few nations unscathed. In the Philippines, while concerted efforts around urgent health concerns were intensified, the response measures, including an enhanced community quarantine (ECQ), had caused disruptions across various economic and social sectors, endangering employment and livelihood, and causing urgent issues around food security and safety, nutrition, and income-generation. MSMEs, contributing to 36% of total value-added in 2018, and employed 63% of the workforce, remain to be one of the highly-vulnerable groups
to economic shocks, needing the most support not only during emergency periods but also during the recovery phase.

The United Nations Industrial Development Organization (UNIDO), in collaboration with the Department of Trade and Industry, and other partners from government, private sector, the academe, and other development partners, embarked on the “Assessment of the Socio-economic Effects of COVID-19 and Containment Measures on Philippine Enterprises” with the intent to (1) determine the impacts / effects of the COVID-19 containment measures and responses to the operations and financial positions of Philippine enterprises; and (2) identify gaps and areas of
improvement that can guide and inform the design of technical assistance, stimulus packages, and other financing opportunities for MSME recovery, beyond addressing the usual cash flow issues, but also to build back better and increase resilience against possible future social or economic shocks.

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