2 weeks Recovery in power sector unlikely to happen in 2020, says Fitch Inquirer
The ongoing coronavirus pandemic is dampening the expansion of power generation capacity in the Philippines as government response to the crisis draws away funds from projects that would boost electricity demand, according to Fitch Solutions. Fitch Solutions noted in an industry commentary that the Philippine government was facing increasingly tighter financial constraints as the pandemic dragged on. "This will see more funds channeled away from infrastructure spending toward other immediate concerns such as supporting the labor market and households through handouts and wage subsidies," the group said. "The inability to contain the virus could also dampen foreign direct investm...Keep on ... more