MANILA, Philippines—The regional surveillance group Asean+3 Macroeconomic and Research Office (Amro) has projected the Philippines to post faster economic growth of 7.4 percent this year despite a 2020 recession that was worse than expected.
Amro’s latest 2021 gross domestic product (GDP) forecast released on Friday (Jan. 29) was higher than the 6.6-percent expansion projected in September 2020 but hewed closely with the government’s 6.5 to 7.5 percent growth target.
“Looking ahead, the Philippine economy is expected to continue to recover, as more restrictive policies are lifted, and confidence is restored by mass vaccination and continued policy support,” Am…
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