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Finance chief Dominguez sees lowest COVID alert level by 'onset' of New Year
ABS-CBN News
Published Nov 17, 2021 05:40 PM PHT
Shoppers go around the Divisoria market in Manila on Sunday, November 14, 2021. The National Capital Region may go on COVID-19 Alert Level 1 by December 1 according to the Inter-Agency task Force on COVID-19. But the agency also warned of another surge if people fail to strictly observe minimum health protocols. Mark Demayo, ABS-CBN News
MANILA - Finance Secretary Carlos Dominguez III said he and other economic managers expect COVID-19 quarantine restrictions to be further eased to Alert Level 1 by the “onset of the New Year.”
Dominguez said with the arrival of more vaccines and a faster rollout of the vaccination program, the government may downgrade the pandemic alert to the lowest level, which would allow all businesses to operate at full-site capacity, subject to minimum public health standards.
“We are all looking forward to the new and better normal. Our businesses should prepare to thrive under the terms of this new economy," Dominguez said in a speech read for him by Finance Undersecretary Gil Beltran at a business event on Wednesday.
Metro Manila, the most economically significant region of the country, is currently under Alert Level 2, the second loosest in a 5-tier COVID-19 quarantine system.
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The government has said that the region will remain under Alert Level 2 for the rest of November, but Alert Level 1 was possible by December.
The Finance chief said the government was able to contain the Delta variant and sustain economic expansion despite periods of lockdowns.
"Our strategy was correct. The results are clear,” according to Dominguez's speech which was read at the 47th Philippine Business Conference and Expo organized by the Philippine Chamber of Commerce and Industry.
Philippine economic managers recently said the better-than-expected 7.1 percent growth posted in the third quarter means that the economy is “on track to reach the high-end of our 4 to 5 percent growth target for 2021.”
The National Capital Region has managed to vaccinate over 90 percent of its target population enabling it to loosen quarantine restrictions while minimizing the threat of further viral spread. Other regions however are lagging in their vaccination target.
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