PH to remain under prolonged quarantine in 2021
The National Economic and Development Authority (NEDA) said the Philippines is expected to remain under a prolonged quarantine next year, with restrictions seen to be removed only in 2022.
At the Development Budget Coordination Committee (DBCC) briefing, Acting Socioeconomic Planning Secretary Karl Chua said the revised economic performance projections for next year considered the likelihood of a less strict modified general community quarantine (MGCQ) by next year as the rollout of a vaccine for COVID-19 looms.
Further, the DBCC expects the country’s Gross Domestic Product (GDP) to contract by 8.5 per cent to 9.5 per cent this 2020, but GDP growth is projected to bounce back to reach 6.5 to 7.5 per cent in 2021 and 8 to 10 per cent in 2022.
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