The National Economic and Development Authority estimated the long-run total cost of the COVID-19 pandemic and quarantines for the next 40 years would be P41.4 trillion, Socioeconomic Planning Secretary Karl Chua said on Saturday, September 25.
The national government also mandates certain percentages at which certain businesses can operate in each quarantine level. According to the NEDA, for as long as businesses cannot operate at 100%, tax revenues will be lower. "We expect the economy to converge to the pre-pandemic growth path by the 10th year. While we will recover to the pre-pandemic level by the end of 2022 or early 2023, it will take several more years before we converge to our original growth path," Chua said.Apart from reduced consumption, the NEDA also determined that there will be a decrease in workers' productivity due to untimely death, illness, and the lack of nationwide face-to-face education.
MacarioBonifac1 Tyak ko malaki na din naibulsa ng mga kurakot na politiko,.!!
The country should demand reparation payments from China for the damages brought by the virus which originated from them.
Tsk, di pa tapos yung ninakaw ni Marcos e...
So magreretire ako mga around 80 years old para makabayad sa utang natin eme
kasama na ung nanakawin nila jan?