PH to miss 2021 GDP growth target – Moody’s

PH to miss 2021 GDP growth target – Moody’s

Financial services firm Moody’s Analytics projects that the Philippines will miss its 6% to 7% Gross Domestic Product (GDP) growth target this year, adding that the country is falling behind its neighboring countries in Asia. 

In an analysis, Moody’s noted that the country will only achieve 5.3% GDP growth this 2021, and its economy “isn’t forecast to return to pre-pandemic levels of output until the end of 2022.”

Last year, the Philippine economy reported a contraction of 9.6% GDP in 2020. It also shrank by 4.2% in the first quarter of 2021. 

Read more here.

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