The ASEAN plus 3 Macroeconomic Research Office said the country’s recovery “depends on how successful the Philippines is in containing the virus and opening up the economy.”
The World Bank, International Monetary Fund and Asian Development Bank all downgraded their forecasts earlier this year following a fresh surge in COVID-19 infections and the reimposition of stricter quarantine measures in the National Capital Region and several other areas. ABS-CBN News’ vaccine tracker puts the number of fully vaccinated Filipinos at 2,527,286 or just 4.36 percent of the 58 million target for the year, after almost 3 months since the vaccination program started.
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