(File photo)
MANILA – A lawmaker on Thursday said placing the entire country under the lowest Covid-19 alert level is the best way to strengthen the domestic economy and cushion the impact of the Russia-Ukraine tension.
Camarines Sur Rep. Luis Raymund Villafuerte said the "deepening fallout" from the Russia-Ukraine conflict, particularly the threat of inflation with global oil prices possibly rising to USD200 a barrel, could crush prospects for a "return to pre-pandemic growth" within the year.
“Hence, the full reopening alone of the economy by placing the entire country under Alert Level 1 status will guarantee greater economic activity, revive shuttered businesses and restore or create jobs at this point when our country is already on the road to recovery on the back of declining Covid-19 infections, a faster coronavirus vaccine rollout and improving economic indicators," Villafuerte said.
He said the key to economic resilience is risk management, which can be done by adopting the most relaxed health protocols across the country.
Under the Alert Level 1 status, all businesses and establishments along with public transportation are allowed to operate at 100 percent capacity.
He said greater economic activity would also mean higher revenues for the government, which will enable it to spend more on Covid-19 response and other priority programs, particularly those that would bolster recovery such as infrastructure and agriculture.
During President Rodrigo R. Duterte's Talk to the People on Monday, National Economic and Development Authority (NEDA) chief and Socioeconomic Planning Secretary Karl Kendrick Chua said the economic cluster recommended that the country's "overall economy" shift to Alert Level 1 at the soonest possible time and open all schools for face-to-face learning.
Chua said this is to "increase our domestic economy" and offset the external risks.
"So while we cannot prevent the risk coming from the global perspective, we can strengthen our domestic economy to provide the people with more jobs and opportunities," he added.
Among the measures proposed by the Cabinet's economic development cluster, Chua said, are releasing fuel subsidies to various sectors affected by soaring oil prices, stabilizing the supply of essential agricultural commodities, and promoting energy conservation.
Secretary Carlito Galvez Jr., National Task Force (NTF) Against Covid-19 chief, said placing all regions under the most lenient Alert Level 1 status will push the country toward full economic recovery.
Galvez said inoculation remains the key to achieving the goal as he urged the public to get their Covid-19 vaccine series and booster shots in the three-day 4th "Bayanihan, Bakunahan" national vaccination drive that started on Thursday.
"We have to expand the Alert Level 1 nationwide so that we could achieve a full recovery and all of our establishments will operate 100 percent with their workforce at full capacity alignment," Galvez said. (PNA)
