Reliance on prolonged lockdowns major factor in PH economic slide – WB

THE writing is on the wall. The World Bank (WB), no less, has concluded that the Philippines has pursued a wrong strategy during the coronavirus disease 2019 (Covid-19) pandemic.

According to a new World Bank report, the Philippines’ reliance on prolonged lockdowns rather than on prioritizing mass testing at the onset of the pandemic caused an economic deterioration from which it is now struggling to recover from. This contrasts sharply with the situation of its regional peers, which are now already seeing significant improvements in their economies.