BukSU faculty speaks in international economics webinar

MALAYBALAY CITY (OP-IPS) A member of the economics faculty of Bukidnon State University spoke in a recent international economics webinar.

Mr. Peter Anthony P. Estioko, of the College of Arts and Sciences Economics Department was invited as one of the speakers in the International Webinar on Policies and Planning On Rebuilding Economies Post Lockdown organized by the Department of Collegiate Education Government First Grade College in Raichur Karnataka, India. The webinar was streamed via Zoom on December 28, 2020.

Estioko, who specializes in Macroeconomics and Economic Development, spoke about the “Socio-Economic Policy Implications of Global Trends and Issues: The Philippine Case.   

Mr. Estioko presented the effects of the pandemic to the Philippine economy – the decrease in investment demands, increase in unemployment and downtrend of output of the tourism industry.

He cited the government road map for economic recovery in two segments – short term and medium to long term key strategies.

For Mr. Estioko, among the paramount considerations for the key term strategies are intensifying Prevention, Detection, Isolation, Treatment and Reintegration (PDITR); upgrading of isolation facilities; strengthening and reinforcing of health protocols; as well as providing financial assistance to the front liners.

Estioko presented that in the medium to long term, the national government should resume its “Build, Build, Build” Program, assisting the Small and Medium Enterprises (SMEs) to recover, soften trade restrictions, increase tourist arrivals, and ensuring exports are of quality and competitive in the international market.

He cited the significance of the timely approval of the Financial Institutions Strategic Transfer (FIST) Bill, which the Senate of the Philippines approved on third and final reading on November 10, 2020. The bill aims to realign non-performing assets of all financial institutions towards financing the “Build, Build, Build” Program of the government and facilitate speedy economic recovery.

The BukSU educator joined seven other speakers in the webinar including Dr. Sreesha Kumar H.Y. of India’s Regional Department of Collegiate Education in Karnataka; Peru’s Mg. Efrain Pavel Uribe Soto, Economist, San Marcos University; and Sri Lanka’s Rismin Mohamed Rihan, faculty, Department of Economics, Commerce Education Center.  Estioko, who is the college’s coordinator for the International Affairs Unit, also sits in the board of the Council of Economics Educators, Inc. (CECON) and Mindanao Economics Societies, Inc. (MESI). (Tirso R. Cruz Jr/CAS-ED publications contributor)