Karl Chua: No more lockdowns to get the economy moving | Bilyonaryo Business News

Karl Chua: No more lockdowns to get the economy moving

Managing Covid-19 outbreaks without the need to revert to strict lockdowns will pave the way for faster economic recovery, according to National Economic and Development Authority Acting Secretary Karl Kendrick Chua.

Chua expects the economy to bounce back in the fourth quarter as the country moves to further ease quarantine measures.

He’s also comforted by the fact that public transport capacity has been increased.

“Given the policy changes and the further opening up of the economy and the policy not to revert to stringent lockdowns, we expect a significant improvement in the fourth quarter. The path is clearer to a strong bounce back in 2021,” Chua said in a briefing.

“Hopefully, we will see better or positive year-on-year quarter growths starting early next year,” he said after gross domestic product contracted by 11.5% in the third quarter.

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