THE National Economic and Development Authority (Neda) in Northern Mindanao has estimated P90.61 billion worth of losses in the region from March 15 to September 30, as the coronavirus disease (Covid-19) pandemic continues to threaten the country's economy.
Mylah Faye Aurora Cariño, the regional director of Neda, said that from March 15 until the end of the year, they are estimating the total losses of the region would reach P103.89 billion.
In 2018, the region's economy expanded to around 7.1 percent while in 2019, using the 2018 constant prices, the economy further expanded by 5.9 percent.
But Cariño said the economy of Northern Mindanao would reduce between the range of 4.7 percent to 7.5 percent.
"But it's understandable because our government has really implemented katong mga quarantine measures and for a while, some of the establishments have not been allowed to operate," Cariño said.
"Karon, even if our establishments are now allowed to operate, syempre dili pa man 100 percent capacity," she added.
Cariñ said their priority will always be the health of the public, adding that their strategy is to temper the adverse or negative effect of Covid-19 in the economy.