Philippine economists predict sustained growth in Q4

Philippine economists predict sustained economic growth in the fourth quarter of 2021 and beyond due to easing lockdown restrictions and increased vaccination efforts.

Neda Undersecretary Rosemarie Edillon stated that despite scaling back growth targets due to the Delta variant, current numbers indicate a positive outlook for the fourth quarter.

RCBC chief economist Michael Ricafort noted that granular lockdowns being piloted in NCR can mitigate pandemic impacts while continuing economic reopening.

Over 50 million Filipinos have received their COVID-19 vaccines, with more than 23 million fully vaccinated, reducing risks of severe cases and deaths.

Economic recovery prospects are positive for the coming quarters/years, though full recovery of hard-hit industries may take longer due to unvaccinated individuals.