Published July 19, 2021, 7:43 AM
The Philippines’ economic growth continues to take a hit as the country grapples with the COVID-19 pandemic in one of the longest lockdowns in the world.
A July report from Moody’s Analytics tapered its growth forecast for the Philippines, predicting its gross domestic product (GDP) to grow by 4.9 percent at the end of the year compared to its 5.3 percent estimate in May. This number is significantly lower than the 6 to 7 percent growth targeted by the Philippine government for 2021.
While larger companies in the Philippines see their revenues gradually bounce back, the slow easing of restrictions and low GDP growth are taking more of a toll on Filipino workers. The Philippine Statistics Authority reported that unemployment in the Philippines rose up to 8.7 percent in April 2021, significantly higher than the 7.1 percent reported the previous month. The increase coincided with the tightening of lockdowns in certain parts of the country amidst h
Recyclable waste collection app expands service to Muntinlupa and Las Piñas
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Public trust in science boosted by pandemic, survey finds
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
COA demands sanctions vs UP, five more SUCs for P607-M unliquidated DAP
mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.