5 days PH economic slowdown seen to persist through Q1 2021 Inquirer
The COVID-19 pandemic is likely to gnaw sharply on the Philippine economy until the first quarter of 2021 alongside a steeper global economic downturn and the tightening of global financing conditions, think tank Fitch Solutions said. While Fitch Solutions does not expect an economic shock to the extent seen during the 2007-2008 global financial crisis, it said in a research note issued yesterday that this outbreak was likely to drag on the Philippine economy through the fourth quarter of this year and the first quarter of 2021. Fitch Solutions thus sees the Philippine gross domestic product (GDP) coming in at ... more