It is 2021 in Manila and we are again going back to another lockdown. COVID-19 cases are surging the past 3 weeks in and around the capital city, Metro Manila. Thirteen thousand Filipinos dead of the corona virus and its variants and complications. And we are back in square one. This is just awful and horrible.
How awful? The economic situation is at its most dire since World War 2. Philippine debt is now at 9.8 Trillion Pesos, that's 54% of the Philippine Gross Domestic Product (GDP).
GDP growth plummeted in the first lockdown (March 2020). Filipinos found a way to earn money to buy food, pay their utilities and rent. The government lifted some restrictions. With this surge, the government is going the lockdown path once again.
The vaccine against the corona virus is trickling down to the medical frontliners and I doubt the younger ones will ever get it by Christmas this year. Medical experts advise continuing with social distancing and masks even after you get vaccinated. That big rebound won't be palpable until herd immunity is reached.
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