In what it described as an “uneven” recovery among emerging economies belonging to the Association of Southeast Asian Nations (Asean)-5, the Washington-based Institute of International Finance (IIF) saw the Philippines among the laggards in the region due to its inability to contain COVID-19, slow mass vaccination and prevailing high consumer prices.
“The Asean-5 (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) have enjoyed stronger growth than most emerging markets over the past decade but experienced a 3.9-percent output contraction in 2020—with only Vietnam maintaining real GDP (gross domestic product) growth. For 2021, we forecast a rebound of 5.2 percent—supported…
Keep on reading: IIF: PH a laggard in ‘uneven’ Asean-5