Philippine economy lost PHP 180 billion during NCR ECQ
In this April 16, 2021 article for the Philippine Star, Louella Desiderio reports on new estimates from the Department of Trade and Industry (DTI) regarding the economic impact of the enhanced community quarantine (ECQ) in the National Capital Region (NCR).
According to Trade Secretary Ramon Lopez, the Philippines lost PHP 180 billion when imposed the two-week ECQ in NCR last April 1, 2021. Lopez says that’s roughly 1% of the country’s total gross domestic product (GDP).
Additionally, Lopez says that around 1.5 million job losses came as a result of the ECQ, with only 500,000 expecting to return to work when the region shifted to modified enhanced community quarantine (MECQ).
Editor’s Note: People think that when the government lowered mobility restrictions in the country, our leaders were prioritizing profit over health. What they failed to realize is that for a country like the Philippines, where a majority of people are severely poor, continued lockdowns meant no food on the table.
Most would not understand what losing 1% of our GDP means. That’s money that the government could have spent on social services such as education, health, and job security. And if we keep up with these lockdowns and lose 1% every 2 weeks, come December, we would have lost 17% of our total GDP. Does the government still realize how much damage this can cause to our country’s future?
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