Singapore enters technical recession as GDP plunges 12.6% in Q2
The GDP plunge was due to the circuit breaker measures that were implemented to slow the spread of Covid-19.ST PHOTO: Kelvin CChng via Asia News Network SINGAPORE — Singapore’s economy…
ADB: 6-month quarantine to shed P1.9 trillion from PH GDP
MANILA, Philippines — The Philippine economy could shed as much as $38.1 billion (almost P1.9 trillion) or 11.5 percent of gross domestic product (GDP) if COVID-19 quarantine restrictions dragged on…
HSBC sees 3.9% PH GDP contraction
HSBC Private Bank’s investment experts Cheuk Wan Fan and Willem Sels British banking giant HSBC sees the Philippines heading to its deepest economic contraction in three decades this year due…
GDP to contract by up to 4% in 2020
Amid the COVID-19 pandemic, the Philippine economy is seen contracting by up to 4 percent this year—the fastest pace in 35 years, even as President Duterte’s chief economic manager said…
GDP to contract by up to 3.5 to 4 percent in 2020: economic team
MANILA, Philippines — Amid the coronavirus pandemic, the Philippine economy is seen contracting by up to 3.5 to 4 percent this year — the fastest pace in 35 years, even…
ADB revises forecast for PH economy: 3.8 percent drop in GDP
The Asian Development Bank (ADB) sees growth across developing Asia-Pacific falling to a 59-year low largely because of the COVID-19 pandemic, with the Philippines suffering a 3.8 percent drop in…
World Bank: PH GDP to shrink 1.9% in 2020
MANILA, Philippines — Amid the COVID-19 pandemic, the World Bank sees the Philippine economy shrinking by 1.9% this year, a slower pace of contraction than government estimates of negative 2%…
Raising COVID-19 funds: PH can afford deficit up to only 9 percent of GDP
Despite more funds needed to continue responding to the COVID-19 crisis, the Philippines can afford to widen its budget deficit to only up to 9 percent of gross domestic product…
At worst case, PH’s 2020 GDP seen shrinking at fastest pace since 1985
MANILA, Philippines — The country’s economic managers have projected gross domestic product (GDP) to contract year-on-year during all four quarters of 2020 to bring full-year contraction to 2-3.4 percent. This…
Bleaker GDP performance in Q2 seen
As economic recession looms in the Philippines for the first time in 22 years, economists called for a more aggressive pump-priming program by the government to mitigate the economic devastation…