ECQ to impact PH’s Q3 performance
The Philippines’ economic performance for the third quarter of 2021 is forecasted to take a hit from the return of strict lockdown measures in the country, said Department of Finance (DOF) Undersecretary Gil Beltran.
Beltran stated that the Enhanced Community Quarantine (ECQ) in Metro Manila and other select areas would affect the economic momentum the country has gained in the second quarter of the year.
In an economic bulletin, the finance undersecretary added that the 11.8% Q2 Gross Domestic Product (GDP) growth was reached due to a low base in 2020, when the country’s GDP decreased by a record 16.9%.
Additionally, the National Economic and Development Authority (NEDA) predicted at least P150 billion (approximately US$2 billion) in economic losses per week with the implemented lockdown.
