Business

NEDA says only 50% of economy open with new lockdowns

The country’s economy may be in for another shock the third quarter with the shift back to stricter quarantine.

From a high of 75 percent of the economy reopening in June and July, the Philippines slid back to just 50 percent of establishments back online after Malacañang decided to place Metro Manila as well as the provinces of Rizal, Bulacan, Laguna, and Cavite under modified enhanced community quarantine from August 4-18.

The return to stricter lockdowns was in response to health workers’ plea for a two week time-out to recalbrate the government’s COVID-19 strategy amid a surge in cases.

NEDA Acting Secretary Karl Chua, however, said this was a step in the right direction.

“I think it’s better that we take one step back so we can take two steps forward next time so that mas sustainable yung ating recovery,” Chua said.

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