To Our Valued Investors,
As the country experiences a looming threat of the new COVID-19 variant, the National Capital Region (NCR) will be placed in another round of the enhanced community quarantine (ECQ) on August 6 to 20. The resolution of the government came after many business leaders suggested a two-week lockdown to prevent the spread of the more contagious Delta coronavirus variant. Under the ECQ, curfew hours in Metro Manila will be reimposed from 8 pm to 4 am. More so, the stern scheme was also implemented almost the same period last year although, with a different scenario.
Economically speaking, the ECQ is a double-edged sword as the two-week ‘circuit-breaker’ could mute production across many sectors in the near-term. The National Economic and Development Authority (NEDA) said the Philippine economy could lose more than P200 billion during the two-week enhanced community quarantine. NEDA Secretary Karl Chua added the government should use the next three weeks to fast-track vaccinations in high-risk areas and that the enhanced community quarantine will be an investment to pave the way for a recovery once we control the Delta spread. Although, this move could also be a reliever as it could recalibrate and safeguard human capital and its productivity moving forward. Analysts are projecting that the NCR will have 2,000 new cases daily on average by August 10 if the government maintains the status quo with infections may reach up to 3,000 daily by August 17. OCTA fellow Nicanor R. Austriaco, Jr. said Metro Manila’s healthcare use rate may be up by 100% as early as August 15 if the government does not tighten quarantine rules in the region. For now, the government must consider “the bigger cost” to the economy and that is a spike in infections by which it could be avoided by doing an earlier or preemptive lockdown measure. As such, in the longer-term, it is better to risk a shorter period of a stricter quarantine scheme rather than suffer a more extensive distraught from the new threat of COVID-19.
Despite the uncertainty that we have to face today, we are remaining committed to bringing you the best and quality service, providing you resources in managing your funds, and stretching our help a mile longer. During this unprecedented time, a time wherein you might carry worries regarding your financial future, we at CAMCI, should assist you with access funds you will need to build and secure good finance.
Very truly yours,