Philippines’ growth forecast kept but Delta variant threatens recovery

New strain: Sale signs are seen at a shopping mall in Cavite province. The economic impact of the Delta strain would likely be felt by the fourth quarter of this year. — Bloomberg

MANILA: While Metro Manila and neighbouring areas moved closer to achieving herd immunity, boosting hopes that the country could finally return to growth path, the more contagious Delta variant of Covid-19 may further slowdown the reopening of the economy, think tanks said.

In a report, Pantheon Macroeconomics senior Asia economist Miguel Chanco said the economic impact of the Delta strain would likely be felt by the fourth quarter of this year.