NEDA chief optimistic Q1 growth possible despite ECQ

The Philippines' chief economist, Karl Kendrick Chua, remains optimistic about achieving positive economic growth in Q1 2020 despite the enhanced community quarantine due to the pandemic.

Chua stated during a virtual press conference that while there is potential for positive growth above zero percent, the economy will face significant revenue losses of up to P1.1 trillion by year-end.

He attributed these challenges to three unexpected exogenous shocks: Taal Volcano's eruption in January, China's lockdown due to COVID-19, and the Philippines' own quarantine measures imposed on March 16.