Ateneo economists warn of possible recession due to quarantine

Ateneo economists warn of a possible economic recession due to the Luzon-wide quarantine measures against COVID-19.

They call on the government to ensure adequate health services and medical supplies, and provide social protection to the public.

The enhanced community quarantine, which restricts travel within Luzon until April 13, will significantly impact supply and demand, leading to a potential severe decline in output and economic recession.

Economists emphasize that curtailing workers and work means no income for many, forcing people to use savings to maintain daily needs.