1 week ‘Worst over for PH economy’ Manilatimes |Biz
The Bangko Sentral ng Pilipinas (BSP) said on Friday it believed the worst was finally over for the Philippine economy after the country’s external accounts improved. In a virtual briefing, BSP Governor Benjamin Diokno said there was a “stark difference” between the behavior of these accounts in the second quarter — the height of the strict, coronavirus disease 2019 pandemic-related lockdowns imposed — and in the third. “It was like night and day, which suggest that the worst is over,” he added. External accounts summarize all interactions of the local economy with the rest of the world. Diokno also ... more