Philippines economic recovery fragile, say think tanks

Oxford Economics research expects the Philippines, Indonesia and India to fare badly as Asian economies recovers from the pandemic. - Reuters

MANILA (Philippine Daily Inquirer/Asia News Network): Waning consumption support from remittances, deep pandemic scarring, and still high Covid-19 infections pose risks to the economic recovery of the Philippines, think tanks said on Tuesday (Oct 19).

In a report, Pantheon Macroeconomics senior Asia economist Miguel Chanco said the “bump” in cash remittances sent back home by Filipinos working and living abroad during the middle of this year was “fading.”