PHP3B weekly loss as NCR Plus shifts to Alert Level 3

The shift to Alert Level 3 restrictions due to rising COVID-19 cases in Metro Manila and nearby provinces will result in an estimated PHP3 billion weekly loss in gross value added (GVA).

Economic managers, including the Development Budget Coordination Committee (DBCC), view this as a temporary setback necessary for managing the new Omicron variant.

The stricter alert level is imposed until January 15 and may delay plans to shift to Alert Level 1.