NextGen Day

According to a representative of First Metro Investment Corporation (FMIC), the government’s immunization program against the coronavirus disease 2019 (Covid-19) is assisting the economy in the face of a new wave of diseases.

FMIC head of research Cristina Ulang stated in a virtual conference on Tuesday that daily Covid-19 instances had reached roughly 33,000, but the economy remains open, with movement restrictions at Alert Level 3 rather than Alert Level 4 as some sectors have recommended.

“And that is a direct outcome of our 50% immunization rate.” “The economy can work,” she stated.

On Monday, the Department of Health (DOH) reported 33,169 Covid-19 cases each day.

According to the report, daily cases are down to 28,007 on Tuesday.

The utilization rate of hospital intensive care units (ICUs) and non-ICU beds, according to Ulang, is around 50%.

“That’s why we haven’t been upgraded to Alert Level 4 yet, and that’s the beauty of it.” That’s the big change we’re witnessing now, and it’s helping the economy,” she said, emphasizing the fact that factories are still open and some workers may work from home.

Ulang is more confident that the economy would “be able to reopen in a bigger way” now that Covid-19 booster doses are being delivered nationwide.

During the same conference, Victor Abola, an economist at the University of Asia and the Pacific (UA&P), cited medical authorities’ assertions that the Omicron Covid-19 form has a lower influence on people than other variants like Delta.

“I’m quite confident,” he continued, “that we’ll be able to open up much sooner than our authorities believe.”

Meanwhile, according to Ulang, the contribution of election spending to domestic growth this year would be lower than in previous election years.

“It’ll be less than 2%, but there will be an upside,” she remarked.

According to the FMIC, the domestic economy will grow by 6-7 percent this year.

What matters, according to Abola, is that the election “be credible above all else.”

“It doesn’t matter who wins,” he said, adding, “people are aware that candidates will spend a lot of money.”

“It’s more about whether the votes are correctly counted and everything,” he continued.

This issue, according to Abola, is being handled with the cooperation of civic groups.

“The election’s credibility is on the line,” he stated.

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