Philippines hopeful of recovery in 2021 but far from glory days

Although the Philippines economic recovery may take time, firms which openly embrace the “new normal” are expected to be thequickest to get back on track. - Bloomberg

MANILA (Philippine Daily Inquirer/ANN): After a challenging 2020 that brought us our fair share of natural disasters, a pandemic, and an economic recession, we begin 2021 full of hope for a better year.

Economic managers are touting a full-fledged bounce back for the economy, with the Philippines’ gross domestic product (GDP) forecast to grow anywhere from 6.5 to 7.5 per cent, as they cite a four-pillar strategy while banking on the country’s demographic dividend to recover from the pandemic-induced recession.