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Manila Bulletin devider Philippines devider National devider Easing of Covid restrictions to boost GDP for latter half of 2022, House leader predicts

Easing of Covid restrictions to boost GDP for latter half of 2022, House leader predicts

Published Oct 25, 2022 03:50 pm

House Committee on Appropriations Chairman and Ako Bicol Party-list Rep. Zaldy Co foresees "improvements" in the country’s gross domestic product (GDP) during the latter part of the year, thanks to the easing of Covid-19 restrictions.

Ako Bicol Party-list Rep. Zaldy Co addresses the House plenary

"With the continuing reopening of the economy and lifting of Covid restrictions, I expect gross domestic product or GDP to further improve in the 3rd and 4th quarters of 2022," Co said in a statement Tuesday afternoon, Oct. 25.

"Swift implementation and high agency 2023 budget absorptive capacity would carry forward that GDP growth," reckoned Co, whose committee led the House of Representatives' deliberations on the P5.268-trillion General Appropriations Bill (GAB) or proposed national budget.

"We have taken note of the most important 2023 budget requests of the DOH and other agencies, as well as from our colleagues here in the House," the Bicolano said.

Co, president of the Party-list Coalition Foundation Inc. (PCFI), made these remarks amid the imminent lifting of the indoor face mask requirement. He said that such lifting--expected to be made official by Malacañang soon--was "justified".

"Further calibrated lifting of Covid restrictions plus the economic impact of the 2022 and 2023 national budgets will result in more economic growth," he said.

"During the budget hearings, the Department of Health (DOH) proved to us the success of their safety protocols, and the continuing Covid bulletins show results of consistent defense against Covid," noted Co.

The House leader added that fears of coronavirus resurgence have been addressed with continuing vigilance, which has proven to be effective.

Covid-19 first emerged in the Philippines in early 2020. The vaccines for the disease were first rolled out locally in March 2021.

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