AMRO trims PH GDP growth forecast to 6.4%

The ASEAN+3 Macroeconomic Research Office (AMRO) forecasts Philippine GDP growth at 6.4% for 2021 and 6.8% for 2022, contingent on a rapid vaccine rollout.

AMRO revised its forecast down from 6.9% in March due to the resurgence of COVID-19 cases and slow vaccination progress.

A quick vaccine program is crucial for economic recovery as it will allow more business openings and boost consumer confidence.

The organization emphasized the need for targeted fiscal support, especially for vulnerable groups like MSMEs and those affected by mobility restrictions.