Return of P30B lost wages forecasted with the easing of restrictions
About P30 billion (approximately US$588 million) in lost wages may be replaced as more Filipinos are allowed to go back to work while the government eases quarantine restrictions, said Department of Trade and Industry (DTI) Secretary Ramon Lopez.
Citing the benefits of de-escalating Metro Manila to alert level 3 from the current level 4, Lopez said that the return of the economic activity in the proposed alert level may restore lost wages in various industries.
The trade secretary added that the “slight reopening in dine-in and personal care” to alert level 3 may help in the country’s economic recovery.
Business groups in the Philippines are also calling for the reopening of the economy at least for the vaccinated to make the affected business sector active again.
The Philippine Chamber of Commerce and Industry (PCCI) is even calling for a full opening despite not reaching the 70% vaccination target in Metro Manila.
On the other hand, the Action for Economic Reforms (AER) said that the government should implement stricter quarantine measures in the Philippines and provide enough support for the “poor and unemployed so they would stay home.”
