Palace welcomes IIF report: PH can handle COVID-19 impacts
Malacaōang welcomed a report by the Institute of International Finance (IIF) which states that the Philippines can handle the economic impacts of the COVID-19 pandemic.
According to IIF deputy chief economist Sergi Lanau, the country's pre-pandemic economic growth and lower public debt levels give it an advantage over other countries entering the global recession in a weak position.
The report predicts a more than 7 percent contraction in the Philippine economy this year due to the pandemic.
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