Economic loss due to strict lockdowns stands at P150 billion per week —NEDA

The Philippine economy will bleed more than what was earlier estimated after more areas were placed under varying levels of strict quarantine modes, as the country battles the surge in new COVID-19 cases coupled with the threat of the highly contagious Delta variant.

“The CQ (community quarantine) classification beginning August 6, 2021 puts 68% of the economy in GCQ with heightened restrictions or stricter,” National Economic and Development Authority (NEDA) chief and Socioeconomic Planning Secretary Karl Kendrick Chua said.

“This will result in lost production output of about P150 billion per week, affecting more than 600,000 workers and will increase the number of the poor by about 250,000,” Chua added.

The NEDA chief said the figure includes “all areas under general community quarantine (GCQ) with heightened restrictions and up.”

This means that the latest economic loss estimates put into consideration areas under enhanced community quarantine (ECQ), modified ECQ (MECQ), and GCQ with heightened restrictions.

The NEDA earlier estimated that the economy will lose P105 billion for each week that the National Capital Region (NCR) is under ECQ — the strictest quarantine level — from August 6 to 20. 

The reimposition of hard lockdown in the country’s economic center was also seen to increase the number of poor individuals by up to 177,000 and render some 444,000 adults jobless.

The country’s chief economist made the updated economic loss estimates after the provinces of Laguna, Cagayan de Oro and Iloilo City were placed under ECQ from August 6 to 15.

The provinces of Cavite, Lucena City, Rizal and Iloilo Province, will be under MECQ during the same period.

Batangas and Quezon, on the other hand, will be under GCQ with heightened restrictions from August 6 to 15.

The municipality of Gingoog will be placed under GCQ with heightened restrictions from August 8 to 15.

A summary of the community quarantines across the country follows:

ECQ (August 6 to 15):

• Laguna
• Cagayan de Oro
• Iloilo City

ECQ (August 6 to 20):

• National Capital Region

MECQ (until August 15):

• Apayao
• Ilocos Norte
• Bataan
• Aklan
• Lapu-Lapu City
• Mandaue City
• Cebu City
• Cavite
• Lucena City
• Rizal
• Iloilo Province

GCQ with heightened restrictions (until August 15):

• Ilocos Sur
• Cagayan
• Bulacan
• Naga City
• Antique
• Bacolod City
• Capiz
• Negros Oriental
• Cebu Province
• Zamboanga del Sur
• Misamis Oriental
• Davao City
• Davao del Norte
• Davao Occidental
• Davao de Oro
• Butuan City
• Batangas
• Quezon

GCQ (until August 31):

• Baguio City
• Santiago City
• Quirino
• Isabela
• Nueva Vizcaya
• Puerto Princesa
• Guimaras
• Negros Occidental
• Zamboanga Sibugay
• Zamboanga City
• Zamboanga del Norte
• Davao Oriental
• Davao del Sur
• General Santos City
• Sultan Kudarat
• Sarangani
• North Cotabato
• South Cotabato
• Agusan del Norte
• Agusan del Sur
• Surigao del Norte
• Surigao del Sur
• Dinagat Islands
• Cotabato City

The rest of the Philippines will be under modified GCQ until the end of August. —KG, GMA News