The Organization for Economic Cooperation and Development (OECD) expects the Philippines to post a slower-than-targeted economic growth of 5.9 percent in 2021 following a record recession last year.
The OECD’s growth forecast in its Economic Outlook for Southeast Asia, China and India 2021 report released on Thursday was below the projection of 6.2 percent it made in November last year as well as the government’s 6.5-7.5 percent goal.
The OECD, an association of 37 high-income nations, earlier projected real gross domestic product (GDP) in the Philippines to have fallen by 9 percent in 2020. Government data showed actual contraction was at 9.5 percent—the worst post-war and the f…
Keep on reading: OECD expects PH economy to grow just 5.9% this year