Manila Bulletin
PH braces for recession, says Drilon; survival essential to eventual recovery
Senate Minority Leader Franklin Drilon warned that the Philippines is facing a recession due to the COVID-19 pandemic.
He cited the 0.2% economic contraction in the first quarter of 2020 and predicted a worse performance for the second quarter.
Drilon emphasized that the next six months will be critical for survival, stating that survival itself will be considered a success, paving the way for future economic recovery.
He highlighted the severe economic impact, noting that about 5.2 million Filipino families experienced involuntary hunger, the highest rate since September 2014.
Drilon also commented that Health Secretary Francisco Duque III lacks the credibility to influence decisions regarding the pandemic response.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
President Rodrigo R. Duterte urged lawmakers to pass stimulus measures to revitalize the Philippine economy, which is nearing recession due to the prolonged and strict coronavirus lockdown.
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The Philippine economy is projected to contract by as much as 3.1% this year, a worsening estimate from Moody's Analytics.
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