PH economy will bounce back, said BSP
The Philippines is set for an economic rebound with medium-term growth prospects on solid footing, according to a statement from Bangko Sentral ng Pilipinas (BSP) and other economic managers last Monday.
US-based credit rating agency Fitch Ratings recently released a report which affirmed the country’s investment-grade score but downgraded its outlook to negative.
In line with this, the government disclosed that the fiscal and monetary policies are in place to support the recovery of the economy, one of Asia’s fastest-growing before the pandemic.
BSP Governor Benjamin Diokno said in a statement, “We expect the drag caused by COVID-19 on the Philippine economy to be transitory.”
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