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Strong economy to help PH brace for impact of Russia-Ukraine crisis: adviser

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A child on a bike is assisted by his father as they visit a market in Manila on March 2, 2022. Beginning March 1, Metro Manila along with other areas shifted to the loosest of five COVID19 alert levels dubbed as the “new normal”. George Calvelo, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/03/07/20220307_manilapublicplaces.jpg"/><figcaption>A child on a bike is assisted by his father as they visit a market in Manila on March 2, 2022. Beginning March 1, Metro Manila along with other areas shifted to the loosest of five COVID19 alert levels dubbed as the “new normal”. <em>George Calvelo, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA - Sustaining economic activities under Alert Level 1 could help the country prepare for the potential impact of the Ukraine-Russia crisis, Presidential Adviser for Entrepreneurship Joey Concepcion said Monday.</p><p>Consistent growth can also help the Philippines address its elevated debt level, the GoNegosyo founder said in a statement. </p><p>World crude oil prices have surged since the military operations began earlier this month, pushing up local pump prices.</p><p>“We can’t stop the war in Europe, but we can help the country brace for crisis,” said Presidential Adviser for Entrepreneurship Joey Concepcion.</p><p>“It’s now become more urgent for the Philippines to maintain its Alert Level 1 status until the end of the year. And to do this, we have to continue to vaccinate, booster and keep our Covid indicators under control,” he said.</p><p>He added lockdowns have been &quot;particularly harmful&quot; to the economy.</p><p>Metro Manila and 38 other areas will be under Alert Level 1 until March 15 unless an extension will be given by the coronavirus task force. Keeping it at the lowest level will give the country&#x27;s small entrepreneurs a boost and will also help the government pay its debts. </p><p>“Giving enough cash flow to our entrepreneurs will cushion the effect, and they will have a better chance of surviving if the situation in the Ukraine becomes worse,” he said.</p><p>Socioeconomic Planning Secretary Karl Chua earlier said Metro Manila and the 38 other areas&#x27; shift to Alert Level 1 could add about P9.4 billion more per week of economic activity. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/02/27/22/ncr-38-other-areas-to-shift-to-alert-level-1-in-march">Metro Manila, 38 other areas to shift to Alert Level 1 starting March 1 - Palace</a></li>	<li><a href="https://news.abs-cbn.com/business/03/04/22/philippine-debt-hits-p1203-trillion-in-january-2022">Philippine national gov&#x27;t debt hits P12.03 trillion in January 2022</a></li>	<li><a href="https://news.abs-cbn.com/business/03/01/22/neda-shift-to-alert-1-ushers-in-pandemic-recovery">NEDA: Losses incurred during pandemic must be recouped</a></li></ul><div><strong>RELATED VIDEO:</strong></div><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=1943085" 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>

Sustaining economic activities under Alert Level 1 could help the country endure the Ukraine-Russia crisis, a Presidential Adviser said Monday.