NEDA: Economy to return to pre-pandemic levels by end-2022

The National Economic and Development Authority (NEDA) expects the Philippine economy to return to pre-pandemic levels by the end of 2022 or early 2023.

Socioeconomic Planning Secretary Karl Kendrick Chua said during a House Appropriations Committee hearing that this recovery will help prevent long-term scarring and productivity losses.

Chua noted that a sustainable economic recovery depends on a fast vaccine rollout, safe reopening of the economy, and full implementation of the recovery package including the P4.5-trillion budget for 2021 and recent tax reforms.