Government Economic Policy : The Philippines Post-Pandemic Economic Growth

The nature of the COVID-19 recession deviates from the norm. Typically, falling inflation and output necessitate monetary policy easing. Nonetheless, the pandemic recession is a result of endogenous reactions as well as administrative policy measures aimed at limiting social and economic interactions and thus the spread of the pandemic. From this vantage point, an accommodating monetary policy stance may be counterproductive, hastening the spread of the epidemic and increasing the number of fatalities. In this study, the inflation rate and economic growth are looked at and investigated. To help the government address the aforementioned major economic problems, this study focuses on government economic policy, in particular its distributive, stabilizing, and allocative functions. Recommendations may include the allocation of resources and the apportionment of productive assets among different uses. Resource allocation becomes a challenge since a society's resources are limited and human needs are often unrestricted. In addition, because every given resource can be used for a variety of different purposes, it is difficult to allocate resources efficiently. The stabilization of the economy, which includes achieving full employment, reining in inflation, and maintaining a fair balance of payments, is one of the goals that governments work to achieve through the manipulation of fiscal and monetary policy