Philippines GDP seen contracting by 9.6%, rebounding at 7.7%

Updated THU · JAN 28, 2021 · 5:18 AM

The Philippines' GDP is projected to have contracted by 9.6% in 2020, making it the fastest decline among ASEAN countries.

However, Oxford Economics predicts a strong rebound for the Philippine economy with an expected growth of 7.7% in 2021, outpacing other regional peers due to its low base from last year's contraction.

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Philippines GDP seen contracting by 9.6%, rebounding at 7.7%

PH GDP seen contracting by 9.6% in 2020, growing by 7.7% in 2021

PHL rebound from low base seen outpacing regional peers