PH economy seen to grow 15% in Q2
UK-based think tank Pantheon Macroeconomics projects that the Philippines will register a 15% growth in the second quarter – a huge climb from last year’s 16.9% contraction.
Pantheon senior Asia economist Miguel Chanco said, “The government’s more tailored approach to restrictions appears to have paid off, though mobility indicators also suggest that compliance or enforcement – likely both – was comparatively lax this time around.”
Chanco stated that the country “looks miraculously to have survived” COVID-19’s second wave without major repercussions.
For the year, Pantheon also revised its Philippine Gross Domestic Product (GDP) growth forecast from 5.4% to 6.6%
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