BAGUIO

Economic recovery still depends on vaccine

BAGUIO City and the country's economic recovery is hinged on the availability of a vaccine against coronavirus disease (Covid-19).

Representative Marquez Go noted that although economic recovery will rely on the availability of the coronavirus vaccine, the lawmaker was informed of possible changes in the country's economic recovery next year.

"I would not know on when we will start to fully recover but based on our talks with the National Economic Development Agency Secretary Carl Chua, will may see an improvement in the early part of the first quarter of 2021. Our 2020 growth in Gross Domestic Product was recorded at negative three percent in the whole country but here in Baguio City, we are now beginning to see returning workers as restaurants are beginning to open," Go said.

Meanwhile, a legislative measure is now being prepared by Congress for government to continue its support to those impacted by the pandemic.

"The Bayanihan to Heal as One Act has expired last June 25 and I think we will have a special session to approve the extension of this bill into law that would continue its support to the people. We have also filed a bill for education or the recovery assistance package for tertiary education which was approved in the committee level and in now in the committee on appropriations. We have discussed this with the national treasury because there is a need for the budget for this to be implemented," Go added.

The assistance will provide tertiary students to have access to technical equipment such as laptops and other gadgets through loans in line with the online educational modes to be instituted by colleges and universities this school year.


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