MANILA, Philippines — The performance of the economy in the first quarter of this year is reason enough to be optimistic that it will recover from its current contraction amid the COVID-19 pandemic, according to the heads of the administration’s finance cluster.
The managers noted that the negative 4.2% gross domestic product growth for the first quarter of this year was an improvement over the negative 8.3% recorded in the fourth quarter of 2020 — a sign that the economy was “on the mend.”
The economic managers who issued the statement were Socioeconomic Planning Secretary Karl Kendrick Chua, Finance Secretary Carlos Dominguez III, and Budget Secretary Wendel Avisado.
“This…
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