08 May Northern Mindanao Loses P5.2 Billion Income Due To COVID-19 Quarantine
According to the National Economic and Development Authority (NEDA) Regional Director- Mylah Faye Aurora Cariño, Northern Mindanao lost at least P5.2 billion which represents the unrealized income from various sectors like retail, trade, and tourism.
The government economist said that the losses were due to the community quarantine that was imposed by the local government in the region, to prevent the spread of the coronavirus disease 2019 (COVID-19).
The estimated figure was based on the number of businesses that either reduced their working operations or temporarily closed.
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