Manila Bulletin
Lopez sees positive Q3 GDP
Trade Secretary Ramon Lopez expressed optimism that the Philippine economy could see a positive growth rebound in the second or third quarter of 2021, following the country's worst post-war recession in 2020.
Lopez indicated that this economic recovery is contingent upon the enforcement of localized lockdowns in areas experiencing COVID-19 case spikes, allowing for less stringent restrictions elsewhere.
He stated that such a strategy would make the projected rebound achievable, especially within the anticipated timeframe of the second and third quarters.
The Philippines experienced a significant economic downturn in 2020, with its gross domestic product (GDP) dropping by 9.5%, marking the largest decline since record-keeping began in 1946.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Trade Secretary Ramon Lopez stated that the Philippines will not experience economic stagnation, even with President Duterte's projection of a return to pre-pandemic life by 2023.
Read more →
The Philippine economy is expected to contract by 1.3% in the first quarter of 2021, a slower pace compared to previous quarters.
Read more →
President Rodrigo Duterte is expected to decide on reopening the economy through easing quarantine restrictions by April, according to Presidential spokesperson Harry Roque.
Read more →
Presidential Adviser for Entrepreneurship Joey Concepcion projects an economic rebound by the fourth quarter of 2021, contingent on the successful implementation of the COVID-19 vaccination program.
Read more →