For the third quarter, Pantheon Macroeconomics sees GDP growing by 9.2 percent to reverse the 11.4-percent drop a year ago.
“The Philippines’ case-count is proving very sticky, at around 45 percent of the mid-April peak, while the test-positivity rate continues to hover dangerouslyin the low double-digit range,” Chanco noted. In contrast, Chanco pointed out that despite the recent surge in cases in Indonesia, Thailand and Vietnam due to the more contagious Delta variant of COVID-19, these three countries had imposed mostly localized quarantine restrictions, although tighter now than before.
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