The Association of Southeast Asian Nations (Asean)+3 Macroeconomic and Research Office (Amro) has slashed its 2021 growth forecast for the Philippines to 6.9 percent as the regional surveillance organization enjoined the country to fight the COVID-19 crisis better by controlling the virus spread and ramping up fiscal support.
Amro’s updated forecast contained in its Asean+3 Regional Macroeconomic Outlook 2021 report released on Wednesday was a downgrade from the previous projection last January of a 7.4-percent gross domestic product (GDP) growth this year following consultations between the organization and the Philippine government.
The downscaled forecast nonetheless remained wi…
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