Concepcion sees Q4 biz rebound
Amid the continuous spike of Covid-19 cases in the country, presidential adviser for entrepreneurship and Go Negosyo founder Joey Concepcion remains optimistic that most businesses will can bounce back in the fourth quarter of 2021, as spending is expected to surge in preparation for the coming Christmas Season and 2022 national elections.
In a televised interview, he said businesses in the country are expected to bounce back during that segment.
“The 4th quarter is the strongest quarter for most companies in the Philippines, especially those in consumer goods, and all of that which goes to agri-business. The demand will surge due to the Christmas Season and elections and spending will start on the said segment,” Concepcion pointed out.
While noting that to be able to solve the plummeting economic situation, the government should still focus on resolving the health situation and push its aggressive approach in inoculating the people.
“We have to solve the health situation to be able to solve the economic problem. Then, we can balance the lives and livelihoods better. The vaccines remain to me the only solution for this crisis,” he stressed.
Through the “A Dose of Hope” program, Concepcion and the private sector have purchased some 17 million doses of AstraZeneca vaccines, set to arrive in the first week of June.
The procurement of the vaccines is set to inoculate economic frontliners belonging to the A4 Group, while some of it will be provided to government frontliners and other segments as well.
To recall, National Economic and Development Authority (NEDA) acting Secretary Karl Kendrick Chua reported to President Rodrigo Duterte that 8.7 million Filipinos lost their livelihood in 2020.
According to him, 8.8 percent of Filipinos now remain jobless, and NEDA expects this to be reduced by four to five percent in 2022.
The demand will surge due to the Christmas Season and elections and spending will start on the said segment.
Chua likewise said that about P15.7 billion has been the government revenue losses every week following the implementation of the modified enhanced community quarantine, while P19.6 billion for the two weeks re-imposition of the enhanced community quarantine.