MANILA, Philippines – Up to 95 percent of the economy will resume jobs and provide income once all the Philippines is placed under a uniform and less stringent than its Covid-19 quarantine levels, which the chief economist of governments has been pushing between a protracted pandemic and the recession created.
Mandatory Secretary of Socio-Economic Planning Karl Kendrick Chua said in a text message on Sunday that the imposition of a modified general community quarantine (MGCQ) across the country would reverse almost all supply-side economic activities, which meant producing more goods and providing customers with a wider range of services.
If President Duterte approves this proposal pushed by the economic team to recover from the pandemic-induced recession, the nationwide MGCQ will be closer to firms and industries at pre-pandemic production levels before the government halted 75 percent of economy at the start of the longest and tightest blockade Covid-19 in the region.
As a result of the expanded community quarantine (ECQ) imposed from mid-March to May last year, the Philippines fell into its first recession or two quarters of gross domestic product (GDP) decline from year to year since 1991. And while most of the country, particularly the business and financial center Metro Manila, remained under strict quarantine, the recession lasted for all four quarters of 2020, shrinking GDP by 9.5 per cent. post-war.
But for Chua, who heads the state planning agency National Economy and Development Authority (Neda), further opening up the output side of the economy would not be enough to start GDP growth.
It depends, of course, whether there are enough transport and demand factors, especially age relaxation to support this, Chua said, referring to their proposal to allow people aged five to 70 to dine out or shop at malls. trading.
Current restrictions allowed only those between the ages of 15 and 65 to leave their homes.
Chua had said children were a major driver of pre-pandemic consumption, as most families dined out or went shopping with children in tow.
That is why our proposal is a package: MCGQ, more public transport and lower age allowed to go out, Chua said.
Citing Neda’s estimates, Chua said that currently, the three sectors with the most significant constraints were education, which had zero face-to-face classes; restaurants, which had only 50 percent of the allowed capacity; and transportation, which can serve only 50-75 percent of demand.
Chua had already acknowledged that GDP is likely to shrink again in the first quarter of 2021 as a result of the slow start to reopening the economy.
As such, Chua told President Rodrigo Duterte last week that a less stringent MGCQ subject to minimum health standards to avoid the spread of the deadly coronavirus would address the high incidence of hunger and unemployment among households in areas where many economic activities were still banned.
On the other hand, Chua had highlighted polls showing that hunger and unemployment fell rapidly especially in areas outside Metro Manila which were already under the MGCQ towards the end of 2020.
Chua had said that since polls showed that over nine out of 10 Filipinos adhered to prescribed measures such as wearing face masks and shields, frequent hand washing, and social distancing, the spread of Covid-19 would be manageable, though the hidden risks have recently emerged more contagious variants of the virus.
Duterte is expected to make a decision on Chua’s recommendation this week.
For more information on COVID-19, call the DOH Hotline: (02) 86517800 local 1149/1150.
The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to deposit into your current account Banco de Oro (BDO) # 007960018860 or donate through PayMaya using this connection .
Subscribe to ASK MORE to access The Philippine Daily Inquirer and over 70 other headlines, share up to 5 devices, listen to news, download as early as 4 a.m., and share articles on social media. Call 896 6000.
For feedback, complaints or questions, contact us.
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]