By The Manila Times, 6 Feb 2020
THE 2019-novel coronavirus (2019-nCoV) acute respiratory disease is likely to slow down the Philippine gross domestic product (GDP) growth by 0.3 percent for the whole year, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno revealed on Thursday.
“Preliminary BSP estimates show a 0.3 ppt (percentage point) reduction in 2020 GDP . . .,” Diokno told reporters in a text message.
In a separate interview on the sidelines of the Management Association of the Philippines (MAP) general membership meeting in Taguig City, Diokno said that the central bank assessed the disease would only affect economic growth in the first two quarters of the year.
The BSP chief said estimates showed a reduction of 0.2 ppt in the first quarter and 0.4 ppt in the second quarter GDP or an average of 0.3 ppt for a full-year growth.
The government is targeting a 6.5-7.5 percent GDP growth this year.
Analysts had told The Manila Times that the impact of the nCoV on the economy would be minimal provided the government was able to contain it.
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.
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