DBCC flags pandemic, polls as risks to 2022 econ recovery

President Duterte's economic team has identified a prolonged pandemic and next year's presidential elections as potential risks to the Philippines' economic recovery.

The DBCC recommended stepping up mass vaccinations and preparing for new variants that could hinder containment efforts.

BSP Governor Benjamin Diokno warned that low vaccination rates and emerging virus strains, such as the Omicron variant, may obscure the economy's recovery.

Diokno noted that while economic activity is improving, a significant portion of the population remains unvaccinated, with only about one-third fully vaccinated according to Our World in Data.