“We can’t stop the war in Europe, but we can help the country brace for crisis,” said Presidential Adviser for Entrepreneurship Joey Concepcion.
NATIONAL VACCINATION DAY. Health Secreatary Francisco Duque inoculates a teenager with COVID19 vaccine during a ceremonial vaccination to mark the start of the National COVID-19 Vaccinaton Day at Marikina Sports Center in Marikina City, November 29 2021.In order for the country to meet it vaccination target by the end of 2021, the Philippine government started the 3-day National COVID19 Vaccination Day. Also in photo is Marikina CIty, Mayor Marcy Teodoro.
Concepcion explained that lockdowns and restrictions have been particularly harmful to the Philippine economy as it is highly dependent on mobility. “We are a consumer-led economy. We depend on mobility,” he said. “If our Covid numbers go up again, our mobility will be restricted and we would reverse the gains we’ve achieved so far,” he said.
Concepcion further said that keeping businesses open will help contribute to revenue generation for the government and help pay back its debt, which as of January has reached a record P12-trillion, or USD256-billion. Since the start of the pandemic in 2020, the Philippines’s debt has increased by almost P4-trillion, with Covid-related borrowings reaching P2.74-trillion in 2020 alone.