• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » Gov’t optimistic that Philippine economy can weather Coronavirus

Gov’t optimistic that Philippine economy can weather Coronavirus

The Philippine economy has the means to withstand the economic effects of the coronavirus pandemic, according to the Finance Department. In an economic bulletin, the department said that the country’s strong external position could help it weather the impact of the Covid-19 crisis.

The department added that the country’s current account strengthened in 2019 and the deficit was almost wiped out. This implies higher reliance on domestic savings than on foreign savings such as foreign borrowing and foreign investment, it said.

The coronavirus pandemic has locked down more than a third of the economy in a state of inertia, cutting the source of income for 11 million Filipino workers in Luzon, but the Finance Department said the country’s strong fundamentals will enable the economy to withstand the economic shocks.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image