You must be wondering how much of a price did the nation pay as a result of the 2-week ECQ (enhanced community quarantine) ordered on NCR Plus (National Capital Region plus the provinces of Bulacan, Cavite, Laguna and Rizal).
The answer? P180 billion in terms of economic losses according to the Department of Trade and Industry (DTI) accounting for 1% of the nation’s gross domestic product (GDP). To put things in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article of April 15, 2021. Some parts in bold…
The Department of Trade and Industry (DTI) has estimated that the country lost 1 percent of gross domestic product (GDP) during the two-week enhanced community quarantine (ECQ) in National Capital Region (NCR) and four nearby provinces.
During the Laging Handa public briefing Thursday, DTI Secretary Ramon Lopez said the economic loss due to the half-a-month ECQ in NCR, Bulacan, Cavite, Laguna, and Rizal (NCR Plus) is equivalent to PHP180 billion.
Earlier, Lopez said around 1.5 million Filipinos had no jobs during the ECQ in NCR Plus, and only 500,000 jobs were brought back when the quarantine classification for areas was downgraded to a less strict modified ECQ (MECQ).
“We want to see lower Covid-19 (coronavirus disease 2019) cases and lower utilization rate of (Covid-19 beds) before we ease the status to GCQ (general community quarantine),” he said in Filipino.
The DTI chief also downplayed speculation that the reopening of economic activities and business establishments became the ‘super spreader’ of Covid-19.
To manage the rate of infection of the coronavirus, Lopez said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) will not allow high-risk and non-essential activities and gatherings.
He added the government must slow down the daily Covid-19 cases while increasing the health care capacity to relax community quarantine status in the NCR Plus.
Clearly, the 2-week ECQ period on NCR Plus was damaging not only to the businesses and people of the affected region but on the Philippine economy as well. What we cannot see yet is exactly how many more people – specifically those who lost jobs in NCR Plus because of ECQ – fell into poverty. Take note that the more people fall into poverty, the more costly it becomes for the local government units (LGUs) and the nation government to provide support to them using taxpayers’ money.
As it has been a week since NCR Plus shifted to MECQ (modified enhanced community quarantine), we will find out soon how much the region and the national economy recovered from the high cost of ECQ.
If you do the math, a single week of ECQ on NCR Plus costs P90 billion. Can you just imagine the dramatic cost to the nation had ECQ went on for a full year of 52 weeks? Do not forget that all the unemployed bad need jobs and income.
Right now, the national government and varied forms of governing units are still struggling to balance themselves between economics and public health during this COVID-19 (China virus) pandemic that has lasted over a year now. No matter how you do your business, how you make your important transactions, follow the health protocols to avoid getting infected with the China virus.
By the way, whenever possible, support the business joints in your local community whenever you need to buy or consume something. By the way, never let the Political Left fool you with their propaganda related to economy and the pandemic.
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673