MECQ to drag Q3 recovery
The Department of Finance (DOF) is only expecting a moderate economic recovery in the third-quarter due to reimposition of modified enhanced community quarantine (MECQ) over Metro Manila and nearby provinces.
Finance Secretary Carlos Dominguez III admitted that while the economy remains in good shape, the reimposition of a two-week MECQ in key areas of Luzon is one-step backward for the country.
In a statement, Dominguez said that the economic recovery is expected to proceed in the third-quarter at a “steady, yet moderate phase.”
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