PH’s projected 2021 GDP growth ‘strongest’ in Asean

PH’s projected 2021 GDP growth ‘strongest’ in Asean

A report completed by UK-based Oxford Economics said that the Philippines’ gross domestic product (GDP) would be the strongest in the Association of Southeast Asian Nations (Asean), despite its fast GDP decline last year.

In a report, Oxford Economics lead Asia economist Sian Fenner and economist Sung Eun Jung projected that the country’s GDP would grow 7.7% this year, similar to the growth rate they estimated for Vietnam.

Oxford Economics also noted that “despite the expectation that only 35 percent of its population will be vaccinated by the end of the year,” the country is likely to further reopen its economy.

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