Gov’t revises econ impact projection due to Luzon quarantine

The government will revise its economic impact projection due to the Luzon-wide quarantine implemented to stem the spread of COVID-19.

Trade Secretary Ramon Lopez stated that health concerns now take precedence over initial projections which estimated a less than one percentage point drop in GDP growth if the threat persisted until June.

Bangko Sentral ng Pilipins Governor Benjamin Diokno emphasized everyone's cooperation is needed to ensure public safety and economic stability during the month-long quarantine, noting its temporary nature designed to flatten the incidence curve.