Economic downgrade for the Philippines as Covid-19 cases hit record numbers

A senior citizen receiving her first dose of AstraZeneca coronavirus disease (Covid-19) vaccine, at a covered court in Manila, Philippines, on Monday, March 29, 2021. - Reuters

MANILA, March 24 (dpa): The economic outlook darkened for the Philippines as it recorded its highest number of Covid-19 infections - more than 10,000 on MOnday - with the total number of cases breaching the 730,000 mark.

Amid the country's struggle to contain the spread of the disease and its prolonged economic restrictions, the World Bank, in its East Asia and Pacific Economic Update released on Friday (March 26) , downgraded its growth projection for the Philippines to 5.5 per cent, from 5.9 per cent in its December 2020 update.