NEDA: NCR under Alert Level 3 consistent with trimmed growth target

The Duterte administration is optimistic that its trimmed economic growth target for this year is achievable after it placed the National Capital Region (NCR) under the more relaxed Alert Level 3 from October 16 to October 31.

On Wednesday, the Inter-Agency Task Force (IATF) green-lighted the recommendation to downgrade Metro Manila’s alert status to Level 3.

Under Alert Level 3, several establishments will be allowed to operate at 30% indoor venue capacity only for fully vaccinated individuals and 50% outdoor venue capacity, provided that all employees are fully vaccinated.

“Our 4% to 5% growth rate is consistent with this type of relaxation,” Socioeconomic Planning Secretary and National Economic and Development Authority chief Karl Kendrick Chua said in a text message.

Alert Level 3 increased operational capacity for businesses and allowed cinemas to partially open for the first time since March 2020,

The Development Budget Coordination Committee (DBCC) said it revised its growth assumptions for 2021 from the 6% to 7% range to 4% to 5% “in light of the reimposition of stricter mobility restrictions in various areas of the country to effectively address the heightened risks brought about by the COVID-19 Delta variant.”

Metro Manila was placed anew under the strictest enhanced community quarantine (ECQ) from August 6 to 20 followed by a prolonged modified ECQ from August 21 to September 15, wherein most business activities are prohibited, amid the threat of Delta variant.

The NEDA estimated that the economy stands to lose P150 billion for each week several regions are under stricter quarantine modes: ECQ, modified ECQ, and general community quarantine with heightened restrictions.

Malacañang said  easing COVID-19 restrictions in Metro Manila to Alert Level 3 is needed to provide jobs amid the pandemic. -NB, GMA News