Published December 17, 2020, 10:13 AM Michael Gerard “Mike” Enriquez Sun Life Philippines expects the Philippine economy to undergo a “U-shaped,” a longer type of recovery and a return to trend line growth in the next two years. Michael Gerard D. Enriquez, Sun Life chief investments officer, said the country’s economy, as measured by its gross domestic product (GDP), may grow by 4.0 percent to 5.0 percent in 2021, a reversal of projected 8.0 percent contraction this year. Enriquez said the economic decline in the final three-months of the year could be softer than in the previous quarter at 5.7 percent. Sun Life’s 2020 economic projection is better than the government’s outlook of -8.5 percent to -9.5 percent, but below the Duterte administration’s target of 6.5 percent to 7.5 percent growth in 2021.