Concepcion projects PH economic rebound by Q4 with successful vax program

Presidential Adviser for Entrepreneurship Joey Concepcion projects an economic rebound by the fourth quarter of 2021, contingent on the successful implementation of the COVID-19 vaccination program.

Concepcion highlighted that the arrival of vaccines marks the beginning of the country's economic recovery efforts.

He emphasized the importance of adhering to the vaccination schedule during the second and third quarters of 2021 for sustained progress.

Increased vaccine arrivals starting in May and particularly in the third quarter are expected to boost confidence, further supported by the upcoming 2022 election year which typically stimulates spending.

The Philippines commenced its vaccination program on March 1, with the initial Sinovac CoronaVac doses arriving on February 28 and nearly 500,000 AstraZeneca doses from the COVAX Facility arriving on March 4.

The private sector's procurement of AstraZeneca vaccines will see the initial 2.6 million doses arrive in the second quarter, with half donated to the government, and the remaining 14 million doses scheduled for delivery by the third quarter.