The economy weathered several threats as the COVID-19 virus, African Swine Fever (ASF), and weather disturbances struck the region in 2020. The inflation rate initially managed to stay below 4.0 percent but it accelerated beyond the target range in the last quarter as the onslaught of Typhoon
Ulysses exacerbated the effects of the pandemic.
Meanwhile, the employment rate is recovering after it dived to 84.4 when the entire Luzon was placed
under Enhanced Community Quarantine (ECQ) in the wake of the pandemic. The hard work from all
sectors, the enactment of COVID-related protocols and the cooperation of the people allowed the
region to carefully reopen the economy and adapt to the new normal despite the virus’ continuing
threat.
