Some foreign and local financial analysts said that the country’s economy is in for a hard drive in the next two or three years. The assessment is correct amid reports of destructive floods and devastation brought about by slew of recent typhoons and massive losses brought about by the Covid-19 pandemic.
This negative projection is very true nationwide and locally due to the devastation wrought upon us by Quinta, Rolly and Ulysses. With Bato-Baras as the hardest-hit, including Gigmoto and San Miguel, there was outpouring of financial and in-kind support from all sectors–public and private, business and they like. Typhoon Ulysses devastated the northern portion of our province through flashfloods and landslides rendering national roads quite non-passable and municipalities isolated and without electricity.
The 43 electric cooperatives made possible the 75-80 percent re-energization of the whole province before the Christmas eve celebration of the coming of the Messiah every 25th of December. Unfortunately, for probably two consecutive years there will be Christmas Cheers three-weeks entertainment in Plaza Rizal, Virac and the other 10 municipalities.
For sure, Ficelco management led by BOD led by chairman Rodulfo ‘Boy’ Vargas and GM Engr. Raul V. Zafe will tender a “ austere, but memorable” despedida party to these 43 electric cooperatives on December 15 for the outgoing Task Force Kapatid groups for their much needed respite in celebration of the Yuletide Season with their respective families.
The good news is they’ll be returning back to our province in January 2021. The bad news is that they will be subjected to 14-day quarantine here or wherever. No thanks to that minute, unseen, dangerous Covid-19 pandemic predicted more than three centuries ago by French astrologer-physician Nostradamus. A male, young Indian astrologer prodigy predicted the same pandemic but accordingly failed on its containment prediction.
On the one hand, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in an online press briefing that “preliminary data from July to September suggest that that the worst is over.” Diokno cited as basis for his statement the country’s favorable balance of payments (BOPs), higher foreign direct investments (FDIs) and increase in cash remittances by overseas Filipino workers (OFWs).
“Following his thinking,” Palabrica said, “ the country can look forward to the economy’s eventual recovery.” In effect, he debunked the assessment by some foreign and local financial analysts that the country’s economy is in for a hard ride in the next two to three years, Palabrica (PDI 11/24/20).
However, with the slew of devastating typhoons, with Rolly as the strongest this year, Diokno’s statement would have been rendered moot and academic. That is, irrespective of the fact that there’s a vaccine ready in the first, second or third quarter of 2021. And to think that it would take 3-5 years to vaccinate 60 million Filipinos according to categories. The PDU30 administration would need a around a whooping P73 billion for the first beneficiaries of such covid- 19 vaccine. (To be continued).