By Melissa Luz Lopez, CNN Philippines, 8 Jun 2021
Metro Manila (CNN Philippines, June 8) — The Philippine economy will record an even slower economic growth this year following a steep crash in 2020, the World Bank said Tuesday.
From a growth forecast of 5.5% in March, the global lender now sees a 4.7% expansion for 2021.
World Bank economist Kevin Chua said the Philippine economy is expected to recover this year, but this is hinged on the ability to manage the COVID-19 health crisis, effective pandemic containment, mass vaccinations, and further loosening of quarantine restrictions. He added that the path to recovery appears “fragile and challenging.”
The Philippines is among the last countries in the region to start its vaccination drive, only rolling it out on March 1 and with doses slow to come in for the past three months.
The country likewise saw a resurgence in infections, which started in Metro Manila and nearby provinces, collectively known as NCR Plus. It has now reached parts of Visayas and Mindanao.
President Rodrigo Duterte’s economic team also slashed its growth targets this year to 6-7% from 6.5-7.5% after reporting five straight quarters of contraction, with economic output shrinking by 4.2% in the first three months.
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
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.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
June 6: Migrant Workers Day
June 19: Filipino Youth Day
June 25: Day of the Filipino Seafarer
