ADB: PH economy to shrink by 7.3%

By The Manila Times

Sep 16, 2020 12:24 am

The Asian Development Bank (ADB) on Tuesday further slashed its forecast for the Philippine economy this year to -7.3 percent on the continued impact of the coronavirus pandemic, but said the government’s stimulus measures helped keep the country on track to recovery next year.

This June 1, 2020 file photo shows commuters about to board a Metro Rail Transit Line 3 coach at the Araneta Center-Cubao station in Quezon City on the first day of the reimposition of a general community quarantine in Metro Manila. The Asian Development Bank on September 15 further cut its Philippine economic growth forecast for this year to -7.3 percent on the continued impact of the coronavirus pandemic. AP PHOTO

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