Vax, aid key under MECQ
At this time we do not see two successive quarters of negative growth
Getting on with the vaccination program while assuring that targeted subsidies continue to flow are the expectations of the business sector with the relaxing of the health restrictions to modified enhanced community quarantine (MECQ).
Philippine Chamber of Commerce and Industry (PCCI) president Ambassador Benedicto Yujuico said the easing of limitations will benefit the economy.
“At this time we do not see two successive quarters of negative growth,” he explained.
He noted that most forecasts still call for a 4 percent to 5 percent gross domestic product (GDP) growth for 2021 although Yujuico added “this may be too optimistic given the state of the economy today.”
Eventually, he said it will be how effectively the surge in infections is handled, the timely arrival of the vaccines, and how the health care system is strengthened to cope with the surge in serious illnesses will eventually determine the direction of the economy.
In the meantime, the business leader said it is necessary to continue the financial support to the poor and marginalized to mitigate widespread hunger.
Ramp up tracing
Management Association of the Philippines (MAP) National Issues Committee chairperson Riza Mantaring shared Yujuico’s view.
Citing the alarmingly high infection cases and that hospitals continue to be stressed, “we may not have a choice but to have some form of quarantine given the lack of other containment measures.”
She expressed hope, though, that the government uses the period to strengthen contact tracing, testing, isolation and treatment capabilities.
“We need more quarantine facilities and treatment centers, and perhaps we can augment our healthcare workers with medical personnel from areas where there are low case counts, and even the military,” she indicated.
She added the government may also need to consider reallocating funds for additional aid to the neediest sectors and programs to assist struggling businesses.
“Vaccination is critical and we hope the government can bring vaccines in more quickly and streamline distribution and administration.” she added.
Dine-in remains
Even with the one-step upgrade, reopening indoor economic activities might take time, according to Trade and Industry Secretary Ramon Lopez said in reference to dine-in services among restaurants and fastfood stores.
“So if we really reopen, the indoor restaurants — unless they can really do the engineering controls — they might be kept closed and only the outdoor activities will be allowed,” Lopez said.
From nearly 2,000 daily cases at the start of the year, Covid-19 cases in the country in the past days even breached the 15,000-mark as its recent high.
“We also say that we cannot continue in ECQ for a long time. What we are looking at is a gradual movement, the reopening to (the) next level of sectors,” Lopez noted.