Rappler
2-week ECQ to cost Philippine economy at least P210 billion
The Philippine economy is projected to lose at least P105 billion weekly due to the strictest Enhanced Community Quarantine (ECQ) in Metro Manila, according to Socioeconomic Planning Secretary Karl Kendrick Chua.
The two-week ECQ in Metro Manila, scheduled from August 6 to August 20, could lead to a total economic loss of at least P210 billion.
The ECQ is also expected to result in an increase of 177,000 poor individuals and 444,000 more unemployed Filipinos, as lockdown-sensitive jobs become unavailable.
Secretary Chua suggested that these negative impacts could be partially reversed by accelerating vaccination efforts in high-risk areas during the three-week period of restrictions.
He also noted that cash aid would help mitigate the economic effects of the lockdown, though details on its provision are yet to be disclosed by the Department of Finance and Department of Budget and Management.
During the ECQ, only essential establishments and industries, such as hospitals, groceries, and delivery services, will be fully operational.
Other sectors like banks, BPO, manufacturing, and construction suppliers will operate with a skeletal workforce.
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Metro Manila was placed under the strictest enhanced community quarantine (ECQ) from August 6 to August 20, 2021, to prepare for a possible surge in COVID-19 cases due to the Delta variant.
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Metro Manila's upcoming Enhanced Community Quarantine (ECQ) from August 6 to 20 is projected to cost the economy PHP105 billion weekly.
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Trade Secretary Ramon Lopez stated that the Philippine economy cannot withstand another nationwide lockdown, especially with the rising threat of the Delta variant.
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Presidential adviser for entrepreneurship Joey Concepcion stated that the country will face a more challenging situation if an enhanced community quarantine (ECQ) is not implemented in the National Capital Region (NCR) due to the Delta variant.
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National Task Force Against Covid-19 chief implementer Carlito Galvez Jr. stated that the Enhanced Community Quarantine (ECQ) in the National Capital Region (NCR) is crucial to prevent a surge in COVID-19 cases similar to India and Indonesia.
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