Economic team: Virus threat to have only short-term impact on tourism

The Philippine economic team believes the novel coronavirus (2019-nCoV) will have only short-term effects on tourism and the economy.

Finance Secretary Carlos Dominguez III stated that the Philippines' large economy can handle the virus impact, while Socioeconomic Planning Secretary Ernesto Pernia noted China's travel restrictions would temporarily affect Filipino tourists from China.

The government aims for a GDP growth of 6.5-7.5% in 2020, supported by infrastructure spending and tourism promotion.