Economics
Lockdown to Cost Philippines $3 Billion a Week, Star Says
Covered rolling carts with goods for sale on the side of an empty street near in Manila on Aug. 6.
Photographer: Ted Aljibe/AFP/Getty Images
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Philippine authorities estimate that economic losses from the current strict lockdown in the Manila capital region and other areas could reach 150 billion pesos ($2.98 billion) a week, the Philippine Star reported.
The projection is 43% higher than a previous estimate as more areas were placed under lockdown to contain the spread of the more infectious coronavirus delta variant, the Star said, citing Socioeconomic Planning Secretary Karl Chua.