CAGAYAN de Oro City councilor George Goking has expressed optimism that the economy would recover from the coronavirus disease 2019 (COVID-19) pandemic-induced slump.

“Rebounding back to positive economic growth in the city is achievable, with the cooperation of the public,” said Goking.

He said that the declining number of COVID-19 cases in the city and even the country be an indication of well for economic recovery and the return of jobs lost amid last year’s pandemic-induced steep recession.

But still, the government should not letting down its guard against the virus, especially the more contagious Delta variant, according to Goking.

He said that health protocols should still be strictly implemented.

Earlier, the Philippine Statistics Authority (PSA) reported that the country’s gross domestic product (GDP) posted a smaller contraction of 4.2 percent in the first three months of 2021, compared to an 8.3-percent decline in the fourth quarter of 2020 that led to the -9.5 percent growth last year.

“Now the outlook has improved, with the declining number of Covid-19 cases in the country,” Goking said.

He said the city has seen a decline in daily new infections after breaking records this month and across the country.

Goking, who is the chair of the City Council committee on trade and commerce, hoped for the start of a better economy in the next coming months with the decreasing number of Covid 19 cases in the city.

“The opening of businesses will lead to creation of more jobs and better lives to families who have been suffering during the pandemic,” he said.

Goking said that he was thankful to the city government for approving the guidelines for minors, vulnerable groups and differently-abled persons to enter malls and other shopping centers in the city as long they are accompanied by their parents and adults.

“Allowing those who are 65 years old and above, persons with immunodeficiency and comorbidities, pregnant women who are fully vaccinated to enter business establishments is a big help to economic recovery,” said Goking.

He said growth prospect is also depend by some important policy actions.

Safe reopening of the economy, full implementation of the recovery package, and acceleration of the vaccine program, according to Goking. (Ben Balce)