Central Visayas recovery inches up as businesses re-open

CEBU, Philippines —  Employment recovery is slowly inching up in Central Visayas, as businesses are opening up towards the end of 2020.

The Regional Economic Council-Region 7 (RDC-7) reported that employment is expected to recover in the last quarter of 2020, as many businesses are now re-opening.

The resumption of businesses towards the holiday season will also push more recoveries from across sectors, the report said.

During the recent RDC-7 virtual fourth quarter full RDC Meeting, Department of Trade and Industry (DTI) assistant secretary Asteria Caberte confirmed that business closures had gone down to five percent.

Caberte noted that while businesses are opening up, careful compliance with government health protocols is being observed.

The report sourced from the Philippine Statistics Authority (PSA) also revealed that inflation within the region will continue to be benign until the end of the year, except for a few food items.

Likewise, agriculture products will likely post a modest growth in 2020 as production in the fourth quarter improves with increases demand due to the holiday season.