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Luzon was placed under an enhanced community quarantine (ECQ) from mid-March to end-May, halting nearly all economic activity. â PHILIPPINE STAR/MICHAEL VARCAS
By
Reporter
REIMPOSING a strict lockdown should be the last resort for the government, according to Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua, despite the detection of the highly infectious variant of the coronavirus in the country.
In his presentation at the Junior FINEX (JFINEX) online forum on Thursday, Mr. Chua said the strictest form of lockdown, where 75% of the economy was shut down, caused 23.7 million more people to go hungry, 4.5 million more to slip into poverty, and roughly 2.7 million to lose their jobs.
BusinessWorld
January 13, 2021 | 12:34 am
THE WORST is over for the pandemic-hit Philippine economy, and a âremarkable reboundâ is expected this year, the central bank chief said on Tuesday, adding that the current accommodative monetary stance is sufficient for a revival in growth.
At the same time, Moodyâs Investors Service raised its growth outlook for the Philippines to 7% this year from its 6.2% forecast given in September, but expects the country to be among the laggards in the Asia-Pacific region in terms of recovery.
âThe worst is behind us. The recovery phase has begun,â Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno told the Reuters Next conference, citing âgreen shootsâ such as improvements in remittances and foreign direct investments.
Standard Chartered has increased its 2021 average Brent oil price forecast by $7 to $51 per barrel, the company's latest commodity report has revealed.
Gambia Tourism in Crisis - Senegambia Hotel Terminates Contract of 41 Staffs
29 December 2020
By Sanna Camara
The impact of Covid-19 pandemic on The Gambia is throwing the tourism sector into deep crisis as one hotel terminated employment contract of its long serving staff members.
Some 150,000 Gambians are said to be employed in the tourism industry, among them is Mr Lamin Njie. He is among the 41 staff members of the hotel whose employment was terminated by the hotel management.
Having worked for Senegambia Hotel since 2006, he rose through the ranks to become the senior supervisor in his department. Today, his life is faced with uncertainty as his services came to abrupt halt at the hotel thanks to what management attributed to Covid-19 pandemic.
Fitch Solutions upgrades outlook on Philippine peso By JON VIKTOR D. CABUENAS, GMA News
Published December 24, 2020 11:38am Fitch Solutions Country Risk & Industry Research has upgraded its forecast on the Philippine peso for this year and the next, with the outperformance expected to continue until 2021 before fading out in 2022. In a commentary released to reporters Thursday, Fitch Solutions said it now expects the Philippine peso to average P49.60:$1 this year versus its earlier forecast of P49.75:$1. For 2021, the currency is forecasted to average P47.50:$1 from P50.10:$1 earlier. Key drivers of the unit’s strength have been weak domestic import demand, the Philippines’ strong external fundamentals, surprises to the upside from remittance inflows and the Bangko Ng Sentral Pilipinas (BSP)’s policies to curb market volatility. We believe these factors will broadly continue over the near term and will be aided by further dollar depreciation, the commentary read