April 06, 2021
ECCP at Work
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 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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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