MANILA, Philippines — Amid the lingering threat of newer, more contagious COVID-19 variants and the recent most stringent lockdown reimposed in areas accounting for half of the economy, President Rodrigo Duterte’s economic managers have turned less bullish in the Philippines’ growth prospects, downscaling their target range to 6-7 percent from 6.5-7.5 percent previously.
But not everything’s doom and gloom — economic recovery in countries opening up from lockdowns following speedy mass vaccination would jack up the Philippines’ exports, while the economic team also pushed localized quarantine restrictions moving forward to gradually reopen the domestic economy and enjoin consumption….
Keep on reading: Duterte’s economic managers scale down 2021 growth goal to 6-7%