The economy could contract by 13 percent in the second quarter due to lack of activity after almost 2 months of movement restrictions, Standard Chartered Asia economist Chidu Narayanan told ANC.
Watch more in iWant or TFC.tv The Philippine economy shrank by 0.2 percent in the first quarter, the first contraction since 1998 due to the COVID-19 pandemic and resulting lockdown. "Unfortunately we think that Q2 would be the worse quarter not just for the Philippines but for several countries across the world as that was when the majority of the lockdown measures were implemented," Narayanan said.The Philippine economy will likely contract by 2 to 3.4 percent this year, based on revised government assumptions. It will likely cause up to P2 trillion in economic losses, equivalent to 9.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PH Coast Guard suspends cargo, fishing trips due to ‘Ambo’MANILA, Philippines — The Philippine Coast Guard on Thursday canceled cargo vessel and fishing boat operations across the Philippines due to Typhoon Ambo (international name
Source: inquirerdotnet - 🏆 3. / 86 Read more »
COVID-19 cases in PH now at 11,876; 2,337 recover, 790 dieCOVIDPH, new cases, Department of Health, coronavirus, Philippines, May 14, COVID-19, pandemic, virus, death toll, recoveries
Source: cebudailynews - 🏆 8. / 71 Read more »
Seoul sees virus tests surge after promising anonymity
Source: ANCALERTS - 🏆 26. / 50 Read more »
Lagman urges House: Fast track action on ABS-CBN franchise renewalAccording to Lagman, depending on the “will and predisposition” of House Speaker Alan Peter Cayetano, “a bill can be approved with inordinate alacrity or can languish in virtual perpetuity.” | NAMercadoINQ
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Typhoon‘Ambo’ prompts PCG to suspend operations of cargo vessels, fishing boats nationwideOperations of all cargo vessels and fishing boats around the country were suspended Thursday due to Typhoon Ambo, the Philippine Coast Guard said.
Source: manilabulletin - 🏆 25. / 51 Read more »
Lorenzana: US attack helicopters beyond PH budgetDefense Secretary Delfin Lorenzana said the attack helicopters being offered by two American companies to the Philippines are way out of the Philippine government’s budget. | FMangosingINQ FMangosingINQ need? with china philippines b safe 🤣 FMangosingINQ 👀 FMangosingINQ China na yan! 🤣
Source: inquirerdotnet - 🏆 3. / 86 Read more »