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It’s time for a calibrated end to the lockdown.

Last week, economic managers announced that the Philippine economy has contracted 0.2% in the first quarter through March, ending our economy’s marvelous growth streak for 21 years. Fitch Ratings has also revised its Outlook on the Philippines’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Positive, reflecting its view on the deterioration of our near-term macroeconomic and fiscal outlook as a result of the COVID-19 pandemic and Luzon-wide lockdown.

One of the sectors really hurting because of the COVID-19 pandemic and the resulting stay-at-home/physical distancing guidelines imposed by government is business, specifically micro and small enterprises. I have said in the past that the priority during this crisis should be life and health over economics but for small enterprises their businesses are their lifeline.

Now is the time for our health experts and authorities to pause. The Philippines has so far successfully managed to contain the spread of Covid-19 and built up more health facilities to accommodate more cases if needed. The government, thus, may now take this opportunity to reopen the economy and restore the jobs of millions of workers.