29 Oktubre 2021, Biyernes
7 months to EMMANUEL PACQUIAO 2022
In the news…
NCR’s shift to AL 2 to add P3.6B to economy per week- NEDA
“The de-escalation of NCR to Alert Level 2 can increase gross domestic product by P3.6 billion and employment by 16,000 per week compared to the current classification Alert Level 3,” the National Economic and Development Authority (NEDA) chief Karl Kendrick Chua said in a statement the downgrading of quarantine alert level status in the National Capital Region (NCR) is seen to add billions of pesos to the country’s pandemic-hit economy.
Interior and Local Government spokesman Jonathan Malaya earlier said Metro Manila is expected to shift to Alert Level 2, citing the continuous decline of COVID-19 cases in the capital region for two weeks by 48% as one of the reasons.
Under Alert Level 2, Malaya said establishments will be allowed to operate indoors at 50% capacity with additional 10% capacity if they have a safety seal. For outdoors, they will be allowed at 70%.
The NCR is under Alert Level 3 from October 16 until 31.
“If further de-escalated to Alert Level 1, an additional P10.3 billion in GDP and 43,000 in employment versus Alert Level 2 can be gained per week,” the NEDA said.
Under Alert Level 1, all establishments or activities are allowed to operate at full on-site or venue/seating capacity provided that it is consistent with minimum public health standards.
“These are very clear indicators why opening the economy will have direct impact on GDP and the people,” Socioeconomic Planning Secretary Chua said during the virtual Economic Journalists Association of the Philippines forum.
Months before the Alert Level system was pilot tested in the capital region in mid-September, Metro Manila was placed under strictest enhanced community quarantine (ECQ) from August 6 to 20 followed by prolonged modified ECQ from August 21 to September 15, wherein most business activities are prohibited, amid the threat of Delta variant.
The NEDA earlier estimated that economy stands to lose P150 billion for each week several regions are under stricter quarantine modes, ECQ, modified ECQ, and general community quarantine with heightened restrictions.
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