CAGAYAN DE ORO

Cagayan de Oro's output loss reached P3.5B to P4B from June 1 to 15

THE National Economic and Development Authority (Neda) has estimated Cagayan de Oro's daily output loss between P231 million to P269 million during the period that the city is under the modified enhanced community quarantine (MECQ).

According to Neda Regional Director Mylah Faye Aurora Cariño, based on their recent estimates, the total output loss of the city from June 1 to 15 has risen.

Last week, Neda's initial estimates of Cagayan de Oro's output loss during the said period is between P2 billion to P2.5 billion.

However, when they re-estimated, the figures went up to between P3.5 billion to P4 billion output loss for Cagayan de Oro.

"This could lead to a reduction of about 1.5 to 2.5 percent of the region's potential output in 2021," Cariño said.

The daily output loss of the city's Agriculture sector is between P1.5 million to P6.5 million and the losses for the entire MECQ period is between P22.3 million to P97.8 million.

The city's industry sector, on the other hand, the Neda estimated between P80.5 million to P85.7 million daily output losses, and for the entire MECQ period, between P1.2 billion to P1.285 million losses.

The daily output losses of the Cagayan de Oro's Services sector is estimated to be between P149 million to P177 million. As for the entire MECQ period, its estimated to be between P2.238 billion to P2.656 billion.


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