Metro Manila (CNN Philippines, August 23) — Malacañang expressed hope the recent round of lockdowns will be the last amid the COVID-19 pandemic, noting that economic growth may not be achieved with a return to stricter measures.
“Let’s just say that we are hoping. Kasi alam niyo naman, kada lockdown natin [Because as you know, for every lockdown we have], we have to adjust again our economic forecast,” said Presidential Spokesperson Harry Roque in his regular briefing.
President Rodrigo Duterte’s economic team recently slashed growth targets for 2021 again as main economic hub Metro Manila and select provinces reverted to the strictest enhanced community quarantine due to a Delta variant-driven surge in COVID-19 cases.
The new 4-5% target band is a far cry from the prior 6-7% range, which itself was a downgrade of the Development Budget Coordination Committee’s original 6.5-7.5% forecast for this year.
“So far, positive pa rin po ang inaasahan nating [we’re still hoping for a positive] economic development within the year of 2021. Pero another lockdown, baka po di na natin makamit ang positive growth,” said Roque.
[Translation: But with another lockdown, we may not be able to achieve positive growth.]
The Philippine economy grew by 11.8% year-on-year from April to June, shifting from a 3.9% dive in the first three months of 2021. However, economic output dwindled by 1.3% on a seasonally adjusted quarter-on-quarter basis.
The capital region is currently under the milder modified ECQ status from Aug. 21 to 31.
Roque has frequently emphasized that it will take days before the effects of a hard lockdown can be seen, while also reiterating the importance of a stronger implementation of the government’s prevent, detect, isolate, treat, and reintegrate (PDITR) strategy and a faster COVID-19 vaccine drive.
