MANILA, Philippines—If current COVID-19 quarantine restrictions drag on until end of 2021 and mass vaccination lags behind, the Philippine economy cold eke out only a 2.9 percent growth, according to economists at the Ateneo de Manila University on Thursday (Jan. 21).
Citing technical projections of the Ateneo’s economics department, former socioeconomic planning secretary Cielito Habito told an online seminar that he expects the “painful” recession to end in the second quarter of 2021 even as restoring GDP to pre-pandemic levels was likely to take much longer—three or more years beyond President Rodrigo Duterte’s tenure which ends middle of 2022.
Ateneo economists projected GD…
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