COVID-19 restrictions easing could bring P8.3 billion weekly

Further easing of COVID-19 restrictions could inject P8.3 billion into the economy and create 36,000 jobs weekly as daily cases continue to decline, according to Socioeconomic Planning Secretary Karl Kendrick Chua.

The National Economic and Development Authority (Neda), led by Chua, estimates that a shift to Alert Level 2 in the National Capital Region (NCR) would boost the economy by P3.6 billion per week and restore 16,000 jobs.

Additionally, moving areas outside the NCR from Alert Level 3 to Alert Level 2 is projected to generate P4.7 billion weekly and bring back 20,000 jobs.

If the entire country were to move to Alert Level 1, the NCR could see a weekly economic recovery of P10.3 billion and the creation of 43,000 jobs.

For areas outside the NCR, Alert Level 1 could result in an even greater economic gain of P13.3 billion weekly, along with an additional 56,000 jobs.