Israel-Hamas Conflict No Direct Impact On Economy, Repatriation Mission On Going

The National Economic Development Authority (NEDA) said that the Israel-Hamas war is not expected to have a major impact on the country’s economy.

However, NEDA Secretary Arsenio Balisacan pointed out that the economic impact on the country would be felt if the conflict spills over into major oil-producing countries.

Balisacan said that he recently met with President Ferdinand R. Marcos Jr. to discuss the potential impact of the conflict. As of now, there is minimal impact on the country’s economy because there have been no significant disruptions in the supply chain.

Additionally, the Department of Foreign Affairs has ordered the mandatory evacuation of Filipinos in Gaza after raising Alert Level 4 on October 15, 2023.

“The Department of Foreign Affairs wishes to inform the public that due to the current situation in Gaza, we have placed Gaza under Alert Level 4 (Mandatory Repatriation),” DFA said in a statement.

DFA reported that as of October 15, there are about 131 Filipinos in Gaza, with at least 78 at the Rafah border crossing near Egypt, while the rest are in the northern part where hostile forces are residing.

“The Philippine government continues to work on the repatriation of our nationals and will provide updates on developments,” DFA said. (ASC)