MANILA (Xinhua): The Philippine economic growth is projected to fall to 2.0 per cent in 2020 before a strong recovery to 6.5 per cent in 2021, assuming the Covid-19 outbreak is contained by June this year, according to a new report by the Asian Development Bank (ADB) released on Friday (April 3).
The report, Asian Development Outlook (ADO) 2020, said the Philippines' economic growth will slow significantly this year before a strong rebound in 2021, with expansionary fiscal and monetary policies partly offsetting slower domestic demand and disruptions in tourism, trade, and manufacturing.
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