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ECCP@Work Featured News Articles | April 6, 2021

April 06, 2021

ECCP Online

FEATURED REPORTS

  • LEARN MORE ABOUT CREATE 
  • CREATE Salient Points (Source: TMAP). Click here to view.
  • Briefer on the Veto Message on RA 11534 (CREATE Act). Click here to download.
  • Note: The ECCP will be having a webinar on CREATE on 16th April, 2:00 - 3:30pm. Please stay tuned for more details.


Inter-Agency Task Force for the Management of Emerging and Infectious Diseases


Department of Budget and Management

Local Budget Circular No. 136 on Guidelines on the Release and Utilization of the Financial Assistance to Cities and Municipalities in the National Capital Region (NCR) and in the Provinces of Bulacan, Cavite, Laguna, and Rizal, Collectively Known as the "NCR Plus," that are Placed Under Enhanced Community Quarantine Click here to download

Bureau of Internal Revenue

Revenue Memorandum Circular No. 45-2021 Click here to download


FEATURED NEWS ARTICLES

Inflation cools to 4.5% in March 

Inflation settles at 4.5% for the month, milder than the 4.7% in February but quicker than 2.5% a year ago. March’s inflation is within the 4.2% to 5.0% forecast range of the Bangko Sentral ng Pilipinas for the month. 


Further improvements in anti-dirty money regulations sought

Anti-Money Laundering Council (AMLC) Executive Director Mel Georgie B. Racela said the Philippines still needs to address gaps in areas identified by the Financial Action Task Force (FATF) in its previous assessment. The Philippines was removed from the FATF’s gray list of countries deemed to have lax measures against dirty money and terrorism financing in February 2005, five years after its inclusion in 2000. The country was under a one-year observation period that was extended until Feb. 1, 2021, when it was expected to have addressed the gaps in its anti-money and counter-terrorism financing rules


Governors, mayors in high-risk areas allowed to get COVID-19 vaccine

Mayors and governors within critical or high-risk areas are now classified as healthcare frontliners and may now take coronavirus vaccines ahead of their scheduled priority, the National Task Force against COVID-19 said. Duterte, himself a former mayor, endorsed the move to the Inter-Agency Task Force on Emerging Infectious Diseases. The latter approved the request but only for the over 400 mayors and governors in areas classified as high-risk by the Department of Health. 


Bank lending continues to decline

The pandemic-induced contraction in Philippine bank lending is now officially a trend after the central bank released data showing a decline for the third consecutive month of loans underwritten by financial institutions in February. According to the Bangko Sentral ng Pilipinas, outstanding loans of universal and commercial banks, net of short-term deposits with the regulator, fell by 2.7 percent year-on-year in February after declining by 2.5 percent in January. On a month-on-month seasonally adjusted basis, outstanding universal and commercial bank loans increased by 0.2 percent.


Amid virus spike, daily COVID-19 testing is at 50,000, says official

COVID-19 testing Secretary Vince Dizon said the country's COVID-19 testing averaged at 51,300 from March 25 to April 1 and "peaked" at 57,800. He added that some 25,000 antigen tests would be conducted daily in the NCR Plus bubble, which is composed of Metro Manila, Laguna, Cavite, Bulacan and Rizal.


Extended ECQ likely to dampen Philippine growth

Extending the enhanced community quarantine (ECQ) in the country’s main economic hub, as well as Bulacan, Cavite, Laguna and Rizal, could shave at least one percentage point off gross domestic product (GDP) this year and further slow economic recovery, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. said.


Duterte extends ECQ in Metro Manila, nearby provinces

Philippine President Rodrigo R. Duterte extended the stringent lockdown enforced in the country’s capital and nearby provinces until April 11, in an attempt to curb a renewed spike in coronavirus infections. The ECQ will be coupled with a strict enforcement of the so-called “prevent, detect, isolate, treat and reintegrate (PDITR) strategy,” Mr. Roque said.


Ireland requires travelers from PH to undergo hotel quarantine

All travelers who have been to the Philippines and 25 other states 14 days before they arrive in Ireland will be required starting April 6 to go on mandatory quarantine in a designated quarantine facility upon arrival in the European country, the Irish government announced. Added to Ireland’s “designated states” list are countries in Europe, Africa, Asia, South America. Including the additions, the number of states covered by Ireland’s designated states list stands at 58.


Galvez: PH could reach up to 3 million COVID-19 inoculations per week by June

The Philippines aims to conduct 3 million COVID-19 vaccinations per week once sufficient supply of jabs arrive by June. Vaccine czar Secretary Carlito Galvez Jr. said 2,497 vaccination sites had been established across 771 cities and municipalities in the country. It has received 2.52 million vaccine doses, including 2 million from China's Sinovac Biotech and the rest, AstraZeneca shots from vaccine-sharing initiative COVAX Facility.


DOF to release budget for NCR Plus aid on April 5

The ₱22.9 billion emergency subsidy budget for those affected by the enhanced community quarantine in the NCR Plus bubble will be downloaded to concerned local governments on Monday, according to the Finance Department. The subsidy will benefit residents within the greater Manila area — Metro Manila, Bulacan, Cavite, Laguna, and Rizal — which were placed under the strictest form of lockdown until Sunday due to the spike in COVID-19 cases.


OCTA sees improvements in Metro Manila due to ECQ, but notes lower COVID-19 testing

Based on its latest report, the group said the reproduction rate, or the number of people infected by a single COVID-19 patient, decreased to 1.58 following the start of the enhanced community quarantine in Metro Manila and four nearby provinces on March 29. The independent research group, however, noted that this could be "attributed in part" to reduced testing in the National Capital Region. Only 25,880 COVID-19 tests were conducted in Metro Manila from March 28 to 31 — a 12% decrease compared to the average number of tests done from March 21 to 2

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