KONTAN.CO.ID - MANILA. Tens of millions of people in and around the Philippine capital will go back to a strict lockdown from Tuesday, threatening incomes and hopes for reviving a once dynamic economy as authorities take drastic measures to halt surging virus cases. Before the coronavirus pandemic, the Philippines was one of Asia's fastest growing economies, but tough restrictions from mid-March to May pushed it to the brink of recession, and hopes for a swifter recovery are looking bleak with the return of measures set to squeeze commerce. The lockdown in Manila and nearby provinces is being reinstated for an initial two weeks after a prominent medical group warned the healthcare system could collapse from soaring COVID-19 cases that scaled new records on four straight days until Monday.
Philippines fears for economy, income as tough lockdown returns
KONTAN.CO.ID - MANILA. Tens of millions of people in and around the Philippine capital will go back to a strict lockdown from Tuesday, threatening incomes and hopes for reviving a once dynamic economy as authorities take drastic measures to halt surging virus cases. Before the coronavirus pandemic, the Philippines was one of Asia's fastest growing economies, but tough restrictions from mid-March to May pushed it to the brink of recession, and hopes for a swifter recovery are looking bleak with the return of measures set to squeeze commerce. The lockdown in Manila and nearby provinces is being reinstated for an initial two weeks after a prominent medical group warned the healthcare system could collapse from soaring COVID-19 cases that scaled new records on four straight days until Monday.