PH economy to post slower-than-targeted economic growth – OECD
The Organization for Economic Cooperation and Development (OECD) projects the Philippine economy to post a 5.9 per cent growth this year, slower than the government’s 6.5 to 7.5 per cent goal.
In its Economic Outlook for Southeast Asia, OECD said that “while the lockdown measures imposed in the Philippines appear to be the strictest in the Asean region, latest data suggest that the virus continues to spread in the country, albeit at a slower pace,” which did not help the economy.
Based on the OECD’s estimates, the total amount of fiscal package put in place by the Philippines to fight the health and socioeconomic ills inflicted by COVID-19 stood at 3.5 per cent of GDP.
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