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What’s the Economic impact of COVID-19?

The Philippine economic growth has been hard hit by the COVID-19 lockdown across Metro Manila. This is where most of the 50% population resides. On this island, 73% of the country’s Gross Domestic Product comes from. The Metro Manila market has been put on cessation for nearly 60 days now. The question is what is the economic impact of COVID-19 to the Philippines.

Among those who have been greatly affected by the strain of lockdown were the street vendors. Also, transport drivers, mall workers, manufacturers, and other services. They along with the infrastructural workers have been affected. The devious impact of the first stance of Enhanced Community Quarantine has paralyzed a lot of people.

According to Business World, the Philippine economy may lose between P273 billion and P2.5 trillion depending on how the coronavirus develops in the next few months. Now, that’s a lot of money.

Image Business World
Source: Business World

The Phil Stock Exchange

Moreover, in the grievance of the economy, the economic impact of COVID-19 on the Philippine Stock Exchange along with the foreign investors will be negative. We have seen the low influx of stocks in the market beginning the first quarter of this years. We will also expect the same fate throughout the second quarter. Depending on the development of the number of cases if we flatten the curve, then the third quarter will still be undetermined. In retrospect, if 50% of the industries will be returning by the fourth quarter, we will expect a gradual impact during this quarter.


source: tradingeconomics.com

But what is the Philippine government doing along with this crisis?

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13 thoughts on “What’s the Economic impact of COVID-19?

  1. The impact of the pandemic cuts across all strata, but the indomitable human spirit will prevail in the end.

  2. Here too the malls were shut for more than a month, except for supermarkets and pharmacies. I can’t imagine the impact on the economy when everyone still has to eat and provide for the roof over their heads.

  3. The economic numbers are staggering. The epidemic is going to take a long while to recover from. It must be tough being a leader in the current climate balancing immediate health with the longer term impact. The Phillipines has a ton of potential, so hopefully the country will rise like a Pheonix from the ashes.

  4. The economic impact of Covid-19 has been devastating worldwide. I feel like we could have done a better job of this in many ways still without harming those around us.

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