A plan is currently being crafted to enable the economy of Iloilo province to bounce back from the impact of the coronavirus disease 2019 (COVID-19) crisis, according to Governor Arthur Defensor Jr.

“Our priority will be agriculture because there are a lot of unsold products as well as a loss in capital. And then the tourism industry because of zero tourist arrivals and then the public sector because of restriction on transportation. But of course almost everybody is affected,” Defensor said in a press conference.

The governor assigned the creation of the economic recovery plan to the Provincial Planning and Development Office (PPDO).

The plan is expected to contain a list of programs and projects that are intended to offset economic losses due to quarantine measures implemented in the province.

“You have the direction, which is this, but you have to reduce it into budget. What will you add to the strategy and budget of the province for 2020? That is the challenge. What will be your innovations for you to say that you have a recovery program that will really stimulate the economy?” Defensor said.

The province’s economy lost an estimated of P10 billion during the enhanced community quarantine (ECQ) period from March 15 to April 30, 2020.

The business and trade industry suffered the biggest loss at P4.8 billion due to closure of 65 percent of establishments.

The lockdown cost the province P1.1 billion in lost tourist receipts.

The transport sector incurred a loss of P59.8 million for jeepneys and P44.6 million for buses.
Losses from sea and air transport have yet to be recorded.

The agriculture sector registered a loss of P103 million. This covers unsold farm produce as well as fish sold at a lower price.

The Business Process Outsourcing (BPO) industry reported an income loss of P2 billion.

A total of 379,060 formal and informal workers from 38 local government units were affected, resulting in roughly P2.4 billion losses in employment.

Stoppage in construction projects implemented by the Department of Public Works and Highways (DPWH-6) resulted in a loss of P117 million, affecting 5,280 workers.IMT