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As the economy reopens, indicators improve says DTI Secretary Lopez

DTI says Philippine economy improves; unemployment now at 10%

MANILA – As the government began easing tight quarantine measures and allowed the reopening of some businesses across the country, Trade and Industry Secretary Ramon M. Lopez said economic indicators have shown improvement.

In an interview, Secretary Lopez highlighted the pre-CVOID economic growth rate that the government hopes to achieve again.

“We continue to push for the reopening of our economy. And our good news is, due to the recent easing of community quarantine, many economic indicators have also improved,” he said in an interview with PCOO Secretary Martin Andanar.

He was quoted saying the unemployment rate, which rose to 17.7% in April is down to 10% in July. Export rate, which dipped to -49%, is at -9% for the same month. While sounding optimistic, Mr. Lopez said the improvement is still not enough.

With the improving economic indicators, the public should not be complacent and ensure compliance with safety measures during transactions and outdoor activities. He called for self-discipline as well.

He added should the public adhere to safety protocols, even when places will be placed under Modified General Community Quarantine (MGCQ), the transmission will go down.

During the same program, Interior and Local Government Secretary Eduardo M. Año said all cemeteries will be closed to visitors from October 29 to November 4,2020.

He said the IATF-EID ratified the decision in its Resolution No. 72 that cemeteries, memorial parks, and columbaria across the country will be closed to prevent mass gatherings. Families are encouraged to remain at home.

Limited number of cemetery visitors will be allowed from September 17 to October 28 and from November 5 to November 15,2020 instead. (Melo M. Acuña)

Trade and Industry Secretary Ramon M. Lopez. (PIA File Photo)

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