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Recovery by 2nd quarter of 2022



Senate President Pro Tempore Ralph Recto expects the economy to recover the P1.9-trillion it lost to the quarantine impositions to contain the pandemic by the second quarter of next year.

In a radio interview, Recto, a former National Economic Development Authority secretary, explained the country has lost P1.9 trillion in 2020 due to the coronavirus disease 2019 (Covid-19) pandemic.

The recession that resulted from the lockdowns caused job losses which pulled more Filipinos into poverty.

Blessing in disguise
Recto assured there is a “light at the end of the tunnel” from the anticipated Covid-19 vaccines and the health system’s ability to provide a cure for the respiratory disease.

“It will be the next administration with a new President which will experience recovery assuming there would be no second wave or new variant,” he said.
Recto emphasized mutations of Covid-19 may develop in the future.

The Senate leader added the projections will be met if the people follow standard health protocols and that vaccines will arrive on time.

Recto noted the delay in Covid-19 procurement could be a “blessing in disguise” as this will allow the government to evaluate and choose the best vaccine brand for Filipinos based on the available data that were initially tallied.