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Metro Manila (CNN Philippines, December 9) – Limiting people under 15 and over 65 to go out amid the COVID-19 crisis is hampering a faster economic rebound and job recovery, Commerce Secretary Ramón López said Wednesday.
López, who just announced that he tested positive for COVID-19, lamented that the pace of economic recovery remains slow due to limitations on who can roam to dine, shop and travel.
“Regarding industries and sectors, almost everything is open… What are we talking about now [What we’re talking about now], Do we allow minors to go out with parents? That will be a great boost for the economy, especially for the retail trade, “Lopez said during a virtual press conference.
“That is helpful because [It will be a big help because] we are very far from pre-COVID levels, “he added.
The economy has contracted 10% so far this year, entering a recession for the first time since the 1998 Asian financial crisis.
Last week, the IATF allowed children accompanied by their parents to revisit shopping malls, but this was overruled by the mayors of Metro Manila, who said that only people between the ages of 18 and 65 are allowed to roam to shop and spend. . The sentence also applies to parishioners for the traditional night mass until Christmas day.
López added that a return to an ultra-low 5% unemployment rate may not be feasible next year, as limited consumer spending also kept earnings and expansion plans limited, leading to some business closures.
“The sectors are open but if few people are going to buy, the other ages are limited, then the level of consumption, “said López.” The level of consumption and the rate of recovery of the business is what will bring back consumer confidence. “
While the economic team waits for the age restrictions to be eased, López said they can seek the entry of new foreign investment for job creation, as they anticipate an increase in interest after the approval of the new income tax regime for companies that reduces the fees paid by most companies.
From a historic unemployment of 17.7% in April, or around 7.3 million unemployed Filipinos, the number has steadily declined to settle at 8.7% or 3.8 million people out of work in October. However, this was still a jump from just 2 million unemployed people a year ago.
Lopez noted that all industries are already open in areas under modified general community quarantine, adding that only Metro Manila and seven other areas are under the stricter GCQ as of December 31.
Cabinet Secretary Karlo Nograles added that the cautious and gradual approach to reopening the economy will receive a boost from the “security seal” program of the Interagency Task Force for the Management of Emerging Infectious Diseases and local government units. He said it should reinforce consumer confidence that they are visiting a restaurant or establishment that adheres to minimum health standards to prevent coronavirus infections.
RELATED: Pandemic May Keep More Filipinos Poor and Unemployed Through Next Year
Meanwhile, Nograles said the recent decision to allow conference venues to accept meetings, seminars and conventions at 30% capacity this December is a “manageable” risk for regulators, adding that this industry also needed help after nine months of closure.
READ: Experts: Allowing Seminars, Minors in Malls Goes Against ‘Sensible Pandemic Management’
Both López and Nograles said that with proper use of masks and face shields, social distancing, frequent hand washing and robust contact tracing, the dreaded spike in infections due to the holiday season will be avoided.
López said there is a “probability” that Metro Manila, the country’s main economic center, could switch to the more relaxed form of quarantine in January. He said a steady decline in active cases and slower attack rates of infections should be seen before this change.
So far, people outside the 15 to 65 age range can only leave their homes for essential trips. However, this rule is relaxed for families traveling to tourist spots like Boracay.
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