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Philippines eyes P9.4 billion in weekly economic activity with Alert level 1

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Pedestrians pass through a heavily congested EDSA traffic in Makati City on Feb. 24, 2022. George Calvelo, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/02/28/20220224-covid-edsa-traffic-pedestrians-gc-7020.jpg"/><figcaption>Pedestrians pass through a heavily congested EDSA traffic in Makati City on Feb. 24, 2022. <em>George Calvelo, ABS-CBN News</em></figcaption></figure></div><p>MANILA — The Philippines expects P9.4 billion in economic activity from the upcoming shift of Metro Manila and other areas to the loosest of COVID-19 alert levels this March, Malacañang said on Monday. </p><p>The capital region and 38 other areas from Tuesday will be placed for the first time under Alert Level 1, which allows establishments to operate at 100-percent on-site capacity. </p><p>Several other areas were de-escalated to Alert 2 from Alert 3, noted Cabinet Secretary Karlo Nograles. </p><p>&quot;Ang expectations po natin na additional is P9.4 billion worth in economic activity per week and 170,000 less unemployed individuals in the next 3 months kung tuloy-tuloy pa po itong pag-a-Alert Level 1 natin,&quot; he said, quoting Socioeconomic Planning Secretary Karl Chua. </p><p>(Our expectations are an additional P9.4 billion worth in economic activity per week and 170,000 less unemployed individuals in the next 3 months if our Alert 1 continues.) </p><p>Chua is expected to expound on these projections in a meeting later Monday with President Rodrigo Duterte, Nograles said in a press briefing. </p><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1947044" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><div style="text-align:center"><em>Video courtesy of PTV</em></div><p>The country &quot;needs&quot; the shift to Alert 1, given the potential economic fallout from Russia&#x27;s military action in Ukraine, said OCTA Research fellow Dr. Guido David.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/24/22/fuel-flour-prices-seen-rising-due-to-ukraine-crisis">Fuel, flour prices seen rising due to Ukraine crisis</a></li>	<li><a href="https://news.abs-cbn.com/overseas/02/27/22/ukraine-to-meet-russia-as-putin-alerts-nuclear-forces">Ukraine to meet Russia as Putin alerts nuclear forces</a></li></ul><p>&quot;We have to be able to keep up with the economic impact and this is one way… We have to take some risks din and reopen the economy,&quot; he said in a televised public briefing. </p><p>Alert 1 retains the mandatory use of anti-virus masks and requires adults to present proof of COVID-19 vaccination in some establishments. </p><p>&quot;We support the guidelines…These are reasonable,&quot; David said in a public briefing. &quot;Wala namang (nothing is) perfect and we have to take some risks din, but we think the risks are minimal.&quot; </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/02/28/22/masks-vax-proof-full-capacity-rules-for-new-normal">Masks on, vaxx proof, full capacity: Rules for COVID-19 Alert 1</a></li></ul><p>&quot;Ang nakikita naman natin, mababa na rin iyong cases dito sa other regions na inilagay sa Alert Level 1, so hopefully ‘pag mataas iyong vaccine coverage nila, mami-mitigate iyong possible infections,&quot; he added. </p><p>(We see that cases are low in other regions placed under Alert Level 1, so hopefully if their vaccine coverage is high, possible infections could be mitigated.) </p>

The Philippines expects P9.4 billion in economic activity from the upcoming shift of Metro Manila and other areas to pandemic Alert 1.