Projections

By Melissa Luz Lopez, CNN Philippines, 24 Jul 2020 Metro Manila (CNN Philippines, July 24) — The Philippines will have trouble returning to its above-6 percent growth track in the next two years in the absence of strong spending to perk up economic activity, a bank analyst said Friday.

By ANNA LEAH E. GONZALES, Manila Times, 24 Jul 2020 The Asian Development Bank (ADB) expects the country’s gross domestic product to contract by as much as 5.3 percent this year, although it says there are encouraging signs that the worst may be over for the economy.

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By Ian Nicolas Cigaral(Philstar.com), 7 Jul 2020 MANILA, Philippines — There is no chance for economic growth this year, the Bangko Sentral ng Pilipinas (BSP) chief said on Tuesday.

by Lawrence Agcaoili (The Philippine Star), 27 Jun 2020 MANILA, Philippines — Credit watchdog S&P Global Ratings now expects a deeper economic contraction for the Philippines, which is going through one of the world’s longest lockdowns to prevent the further spread of the coronavirus disease 2019 or COVID-19.

TUCP sees 12 million job losses Neda warns of 15-year high jobless rate in recession-hit economy by Vito Barcelo and Julito G. Rada, Manila Standard, 26 Jun 2020 The country’s largest labor group said job losses could hit 12 million before the year ends as a result of the COVID-19 pandemic, while the National Economic…

by Associated Press, 24 Jun 2020 WASHINGTON — The International Monetary Fund (IMF) has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago.

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by Agence France-Presse, 10 Jun 2020 PARIS, France — The global economy will contract at least six percent this year due to economic shutdowns to contain the coronavirus outbreak, the OECD said Wednesday, warning that recovery will be “slow and uncertain”.

LOOK: Latest revisions on macroeconomic and fiscal assumptions as of May 27. Some changes from May 12: -Higher 2021 GDP growth target (from 7.1-8.1%)-Wider 2020 and 2021 budget deficits-A bigger 2021 budget proposal pic.twitter.com/IjsqareuDE — Prinz Magtulis 프린즈 (@prinzmagtulis) June 10, 2020

WASHINGTON – The global economy is on track to shrink by 5.2 percent this year amid the coronavirus disease 2019 (Covid-19) pandemic, the deepest recession since the Second World War, the World Bank Group said in its latest Global Economic Prospects released Monday.

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by Lawrence Agcaoili (The Philippine Star), 18 May 2020 MANILA, Philippines — The Philippines is facing a prolonged U or W-shaped recovery as the economy is expected to shrink by up to seven percent this year due to the coronavirus disease 2019 or COVID-19 pandemic, according to New York-based think tank Global Source Partners Inc.

by Ben O. de Vera, Philippine Daily Inquirer, 12 May 2020 The Philippines and Malaysia are expected to lag behind their Asia-Pacific peers in bouncing back from the socioeconomic fallout from the COVID-19 pandemic due to the slow containment of the disease, a United Kingdom-based think tank said.

by Mary Grace Padin (The Philippine Star), 7 May 2020 MANILA, Philippines — The impact of the coronavirus disease 2019 or COVID-19 pandemic on the economy may be worse than previously expected following the extension of the enhanced community quarantine and the imposition of general community quarantine in areas affected by the contagion, the Department…

By Cai Ordinario, Businessmirror, 1 May 2020 Policemen guard the 112-bed We Heal As One center at the Ninoy Aquino Stadium inside the Rizal Memorial Sports Complex in Manila, which will serve as quarantine facilities for Covid-19 patients. THE Philippine economy may lose around P1.1 trillion due to the coronavirus 2019 (Covid-19) pandemic, according to…

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by Daxim L. Lucas, Philippine Daily Inquirer, 26 Apr 2020 MANILA, Philippines – The Philippines’ top monetary manager expects the local economy the enter a recession over the next six months before recovering in the fourth quarter, and entering an upward growth trajectory by next year.

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By: Roy Stephen C. Canivel, Philippine Daily Inquirer, 6 Mar 2020 With local factories still dependent on the input of coronavirus-hit China, a United Nations body dealing with trade issues sees Philippine exports cut by about $300 million this year.

By: Ben O. de Vera, Doris Dumlao-Abadilla, Philippine Daily Inquirer, 3 March 2020 A COVID-19 outbreak that will extend for the entire year will cut gross domestic product (GDP) growth by up to 1 percentage point (ppt) this year, putting at risk the government’s 6.5-7.5 percent target, the country’s chief economist said Monday.

By William B. Depasupil, Manila Times, 1 Mar 2020 THOUSANDS of workers in the airline, hotel and restaurant business and allied industries, including overseas Filipino workers (OFWs) and seafarers or sea-based workers, stand to lose their jobs in the coming months amid growing coronavirus outbreaks, according to the country’s largest labor group.

Researchers find that the economies most likely to suffer would be those most dependent on Chinese tourism, including the Philippines by Agence France-Presse, 1 Mar 2020 MADRID, Spain – The deadly coronavirus epidemic will cost world tourism at least $22 billion owing to a drop in spending by Chinese tourists, the head of the World…

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By Mayvelin U. Caraballo, Manila Times, 19 Feb 2020 MOODY’S Investors Service has lowered its growth forecast for the Philippine economy this year after taking into account the impact of the coronavirus disease 2019 (Covid-19) outbreak on the demand and supply chain in the Asia-Pacific.

by Mary Grace Padin (The Philippine Star), 15 Feb 2020 MANILA, Philippines — The government will not revise its economic growth target for this year despite the risks posed by the Taal Volcano eruption, the Africal swine fever and the coronavirus disease (COVID-19), according to the Department of Finance (DOF).