Palace confident Philippine economy will bounce back after two-week NCR ECQ

Malacañang on Tuesday expressed confidence that the country’s economy would bounce back after the two-week lockdown in Metro Manila from August 6 to 20.

Presidential spokesperson Harry Roque made the response in connection with the country posting an 11.8% Gross Domestic Product growth for the second quarter of the year even amid the raging pandemic.

“Well, nagagalak po kami ‘no na nagkaroon tayo ng ganiyang kataas na pagbangon ng ating ekonomiya," Roque said.

"And we’re hoping po na bagama’t tayo po ay nag-lockdown ngayon ng two weeks ‘no, na makakabawi pa rin tayo sa last quarter,” he added.

[We are happy that we recorded a high growth, and we are hoping even with the two-week lockdown, we can still bounce back in the last quarter.]

“Ginawa nga po natin itong lockdown na ito ngayon na para makabangon tayo ng last quarter ng taon dahil iyong last quarter po, traditionally, iyan ang pinakamasiglang panahon para sa ekonomiya,” Roque said.

[We did implemented this lockdown now so we can recover by the last quarter when traditionally, our economy blooms.]

Under the two-week lockdown in Metro Manila, only essential trips and essential services are allowed to operate.

Consumer spending typically increases in the Philippines in during Christmas season which could start as early as September. —Llanesca T. Panti/NB, GMA News