THE estimated long-run total cost of the coronavirus disease 2019 pandemic and quarantines for current and future generations of Filipinos is estimated at P41.4 trillion, according to the National Economic and Development Authority .'The present and future costs are estimated at P41.4 trillion in net present value terms. Broken down, in 2020, we lost P4.
Due to weaker demand in sectors that need social distancing, such as tourism, restaurants, and public transit, Chua said that consumption and investment will be lower in the next 10 years. As a result, tax revenues will be lower if enterprises are unable to operate at full capacity.Chua, who is also NEDA chief, added that the overall loss due to lesser consumption is expected to be P4.5 trillion.Meanwhile, private investment and returns have fallen by roughly P21.3 trillion over the same period.
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