Economic managers optimistic on PH recovery despite negative Q1 growth

Philippine economic managers are optimistic about recovery despite a negative 4.2% growth in Q1, an improvement from -8.3% in Q4.

Economic managers attribute this improvement to a more calibrated approach to quarantines and increased infrastructure spending.

An economist predicts that the economy could still grow by 5-6% in 2021 due to measures to reopen the economy and expected vaccine arrivals.

Moody’s Analytics projects a 1.5% growth for Q1, better than the -8.3% recorded in Q4, but notes risks remain high with ongoing pandemic volatility.