The National Economic and Development Authority (Neda) ‘strongly believes’ that the Philippines can further ease its quarantine restrictions for an economic comeback.
In a briefing, Acting Socioeconomic Planning Secretary Karl Kendrick Chua said if the government eases mobility restrictions by March, the economy is likely to recover by the second quarter of 2021 – making the target Gross Domestic Product (GDP) growth of 6.5 to 7.5 per cent feasible.
Since Metro Manila and its neighboring regions were placed under GCQ for almost a year, Chua said that Filipinos have already learned to “live with the virus” as evidence showed by recent data.
“We hope that by March, we can make a turnaround hopefully in the second to the fourth quarter. So far, so long as we manage the risks better, we do not see a significant change in our economic growth trajectory. So we can still achieve the 6.5 percent to 7.5 percent [target this year],” Chua said.