Vaccine deployment, lockdown easing, to boost PH growth
Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort forecasts a six to seven per cent growth in the economy this year, stating that the continued easing of quarantine measures, along with the deployment of Covid-19 vaccines are expected to boost domestic growth to within-target levels.
Ricafort said that the approval of the PHP4.5-trillion national budget ensures that infrastructure programs will be financed. The passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) and the Financial Institutions Strategic Transfer (FIST) bill are also pluses.
However, the RCBC chief economist cited some risks that may hinder domestic growth, such as the continued increase of Covid-19 cases in the US, and the possible impact of continued mutation of the Covid-19.
