NEDA optimistic on GDP growth rate

By NG Seruela

National Economic and Development Authority (NEDA) Acting Secretary Karl Chua reported on Wednesday evening that the GDP growth rate of the Philippines will return to 6.5 in 2021 as long as the risk management, proper use of funds, and quick implementation of the vaccination program are continuously conducted.

In President Rodrigo R. Duterte’s public address, Sec. Chua reiterated his recommendation to limit the localized lockdown which the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-MEID) accepted, continue public transportation operations, impose curfew hours with the exemption of individuals in the work sector, allow only essential travel outside the Mega Manila bubble, and reduce office capacity to 30 to 50% in order to fulfil the agency’s projection for this year.

Chua pointed out that to keep the economy alive, the government should focus on localized quarantine and “address the highest sources of risk” in order for livelihoods to continue generating amidst the pandemic.

Kaya ang naging recommendation namin na tinanggap po ng IATF ay limit tayo sa localized lcokdown. Huwag po nating isara ‘yong buong ekonomiya kung sa isang lugar lamang ‘yong mataas ‘yong COVID case. (That’s why our recommendation that was accepted by the IATF is to limit the localized lockdown. Let’s not close the entire economy if only a certain area has a high number of COVID-19 cases).”

The NEDA Chief further explained that the operations of public transportation must not be stopped since the workers, who play a large role in the economy’s recovery, need the public utility vehicles (PUVs) on their way to work.

He recommended adding more “active transport” such as bicycles to provide more means of transportation especially when PUVs require a limited number of passengers.

Moreover, according to NEDA Acting Sec. Chua, the capacity of employees inside an office can be reduced to 30 to 50% in accordance with the memorandum from the Office of the President. However, several factories and supermarkets still need to work in full capacity.

He also suggested to temporarily prohibit dine-in restaurants but continue with outdoor dining, takeout, and delivery.

Chua asserted that the gradual reopening of the economy in October 2020 has not factored in the rising number of Coronavirus Disease 2019 (COVID-19) cases in 2021. He pointed out that the number of cases dropped as the economy gradually reopened.

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