Economy to be ‘derailed again’ amid ECQ – economist
As the government announced that the Greater Manila area (Metro Manila, Bulacan, Cavite, Laguna and Rizal) will be reverted to Enhanced Community Quarantine (ECQ), economists say that these restrictions will likely reverse any recovery made in the first quarter of the year.
John Paolo Rivera, economist at Asian Institute of Management, said that the momentum will be disrupted, and that the economy’s rate will be slow “because the recovery path is not consistent.”
Rivera said that the newly implemented lockdown policy may also “cause investors to divert their funds to economies with more stable economic outlook.”
“It will affect investor, business, consumer confidence again because until now, we’re still implementing draconian measures to contain the pandemic despite availability of vaccines,” said Rivera.
