Gov’t estimates P210B in economic loss due to 2-week ECQ

By Eileen Mencias

“Each week of ECQ in NCR will cost economy P105 billion,” National Economic and Development Authority Karl Kendrick Chua said in a statement.

Chua said the ECQ would put 444,000 people out of work and push an additional 177,000 people into poverty.

Metro Manila will be placed under ECQ from Aug. 6 to 20.

He said the losses could be partly reversed if the time is used to fast track vaccination of people in high-risk areas.

“This way, the ECQ will be an investment to pave the way for a recovery once we control delta spread,” Chua said.

Vaccination during the lockdown, however, will depend on the country’s supply.

As of now, only 32.86 million doses of COVID19 vaccines have arrived and an unknown amount has spoiled because of storage issues.

Of the country’s 109 million population, only 6.8 million have been fully vaccinated.

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