THE PHILIPPINES IS ABOUT TO LOSE P3 BILLION PER WEEK BECAUSE OF NEW COVID-19 SURGE

MANILA, Philippines – The Philippines is about to lose about P3 billion per week, as the alert level was escalated in Metro Manila and nearby areas the surge in COVID-19 cases and the spread of the Omicron variant. January 7 friday, the Development Budget Coordination Committee (DBCC) state that while the shift from Alert Level 2 to 3 in Metro Manila, as well as nearby areas like Bulacan, Rizal, Laguna, and Cavite will result in financial losses, it is just a “temporary setback” and a “necessary adjustment in view of a new COVID variant.” The country’s economic managers assured the public that the Philippines is in “a better position to manage possible spikes” due to sufficient vaccine supply and funding for booster shots. “From all indications, the Omicron variant results in less severe cases, especially to those who are fully vaccinated,” the DBCC stated. While the Philippines has a stockpile of vaccines, it failed to reach its target of fully vaccinating 54 million Filipinos in 2021. January 6, Thursday, the Department of Health announced that they detected 29 new cases of the highly transmissible Omicron variant, including 19 local cases from Metro Manila. The Omicron variant is already the dominant strain in the United States and some countries in Europe. " The trend may likely be true for several other countries." Expert said. Sources: Rappler. Com