The nation’s “unique fiscal and macroeconomic strengths” going into this year provide it with a “solid footing” to meet the pandemic’s economic challenge, Dominguez said in a statement.
“Government’s ability to sustain the fight depends on our fiscal stamina.” The Philippines plunged into a recession after shrinking 16.5% in the second quarter as consumer spending and jobs got hammered amid the lockdowns in Manila and other urban centers to contain the virus. The Philippines’ near-term growth outlook has continued to deteriorate amid the pandemic and lockdowns, Fitch Ratings Associate Director Sagarika Chandra said in a statement.Despite the latest lockdown, economic recovery in the third quarter will proceed at a “steady, yet moderate” pace after the gradual reopening of businesses since May, Dominguez said.
We believe, too. We just need a capable and honorable leadership to manage our country
Agree. PH has the resources. Unfortunately, what is lacking is a competent leadership! Duterte is inutile! RESIGN NOW!
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