President Rodrigo Duterte (pic) imposed a stringent quarantine that shut most businesses and suspended public transport from March to May. A surge in Covid-19 infections prompted the government on Tuesday to reimpose a lockdown in the capital region and surroundings.
MANILA: The Philippine economy suffered its deepest contraction on record in the second quarter and revised down its forecast for the year amid one of Asia’s strictest lockdowns against the coronavirus.
Gross domestic product (GDP) shrank 16.5% from a year ago, according to the national statistics agency, the worst reading in a data series going back to 1981.
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