ANZ Research predicts that the Philippine economy will fall 9.2 percent in the second half of 2020 as the economy is likely to book a double-digit contraction in the third quarter due to the coronavirus pandemic.
The Philippines’ gross domestic product (GDP) will likely shrink by 5.7-6.7 percent in the second quarter of 2020, much higher than the 0.2 percent contraction in the first quarter, according to Governor of the Bangko Sentral ng Pilipnas (BSP) Benjamin Diokno.
The Philippines’ GDP shrunk 0.2 percent in the first three months of 2020, recording the first contraction since the fourth quarter of 1998, announced the Philippine Statistics Authority (PSA) on May 7.
The Philippines’ GDP growth rate for the fourth quarter of 2018 was edged up 6.3 percent from the same period last year, higher than the previous prediction of 6.1 percent, the Philippine Statistics Authority said on April 4.
Governments of the ASEAN member states should design suitable policies to control risks and seize opportunities related to the return of their expatriates, said speakers at a discussion within the framework of the 2018 World Economic Forum on ASEAN (WEF ASEAN) in Hanoi on September 13.
The Asian Development Bank (ADB)’s Board of Directors has approved a loan worth 100 million USD for the Philippines to implement high-quality public infrastructure projects.
Philippine President Benigno S. Aquino III on December 20 signed a
budget of nearly 2.3 trillion pesos (51 billion USD) for 2014 which
gives priority to socio-economic services.
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