ADB: 6-month quarantine to shed P1.9 trillion from PH GDP

ADB: 6-month quarantine to shed P1.9 trillion from PH GDP

MANILA, Philippines — The Philippine economy could shed as much as $38.1 billion (almost P1.9 trillion) or 11.5 percent of gross domestic product (GDP) if COVID-19 quarantine restrictions dragged on for six months, the latest Asian Development Bank (ADB) estimates showed. The Manila-based multilateral lender’s updated COVID-19 economic impact assessment as of June showed that […]
HSBC sees 3.9% PH GDP contraction

HSBC sees 3.9% PH GDP contraction

HSBC Private Bank’s investment experts Cheuk Wan Fan and Willem Sels British banking giant HSBC sees the Philippines heading to its deepest economic contraction in three decades this year due to fallout from the coronavirus (COVID-19) pandemic and the consequent...
GDP to contract by up to 4% in 2020

GDP to contract by up to 4% in 2020

Amid the COVID-19 pandemic, the Philippine economy is seen contracting by up to 4 percent this year—the fastest pace in 35 years, even as President Duterte’s chief economic manager said the country was poised for a “big bounce back” next year. Finance Secretary Carlos...