Closed Businesses Due to COVID-19 Down to 10% in June

Businesses that have closed due to the coronavirus disease 2019 (COVID-19) is down to 10% in June, Department of Trade and Industry (DTI) Secretary Ramon Lopez said Wednesday.

The trade chief reported the recovery in the business sector during the Senate Committee on Trade, Commerce and Entrepreneurship, where he attributed the easing of the quarantine restrictions in the country to the recovery of businesses, which allowed companies to resume partial or full operations.

However, a rise in the percentage of closed businesses to 16% was seen before settling down to 10% as the Enhanced Community Quarantine imposed on the National Capital Region (NCR) plus bubble forced businesses in Metro Manila and adjacent provinces of Bulacan, Cavite, Laguna, and Rizal to close once again.

Moreover, Lopez also reported that businesses in full operation in June were at 44 percent, and partially operating companies are at 46 percent.

The trade chief added that the unemployment rate in June was at 7.7 percent, indicating that the continuous easing of quarantine restrictions help in the economic recovery of the country. (GFB)