Duterte economic managers expect easing to Alert Level 1 by January 2022

DAILY GRIND More and more people are out and about after the government eased quarantine restrictions in Metro Manila to Alert Level 2. —NIÑO JESUS ORBETA

MANILA, Philippines — The Duterte administration’s economic managers are expecting the easing of Metro Manila to Alert Level 1 by January 2022, with the ramped up COVID-19 vaccination program.

In a joint statement on Tuesday, Socioeconomic Planning Secretary Karl Kendrick Chua, Finance Secretary Carlos Dominguez, and Budget and Management officer-in-charge Tina Rose Marie Canda noted the Philippines’ 7.1% economic growth in the third quarter, saying the government is aiming to sustain and improve the overall economic performance of the country.

To do this, the government is eyeing to further accelerate COVID-19 vaccination, ease to Alert Level 1 in January next year, and maximize the use of the 2021 budget.

“With strong third quarter growth and overall performance in 2021, we are on track to reach the high-end of our 4 to 5 percent growth target for 2021. Year-to-date growth is currently at 4.9 percent,” they said.

“To further sustain our growth this year and next year, the government will further accelerate the vaccination program, reopen to alert level 1 in January 2022, and maximize the use of the 2021 budget,” they added.

The economic managers noted that as of Nov. 7,  29.5 million individuals are so far fully vaccinated against COVID-19, while 34.7 million have received at least one dose.

The government will also aim to conduct more efficient public spending to “enhance economic expansion,” noting that the national government disbursement in the third quarter surpassed the programmed level by 4%.

“Sustaining this into the fourth quarter makes achievement of our growth target certain,” they said.

EDV