The Philippine economy may grow by 7 percent next year after shrinking by 11 percent this year as mobility improves alongside the migration to digital platforms, Bank of the Philippine Islands (BPI) lead economist Emilio Neri Jr. said.
However, a full recovery to the same level of output as that prior to the coronavirus pandemic will not likely happen until 2022, the economist said.
The country attained a P19.37-trillion gross domestic product (GDP) in 2019. Coming from a lower base assumed by BPI for this year, a 7-percent growth rate will only bring the country’s total output to about P18.4 trillion next year.
Neri issued the research note after the Bangko Sentral ng Pilipinas…
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