Moody's Analytics has lowered its growth forecast for Philippine gross domestic product (GDP) this year to 5.3 percent, citing decentralized health advice and a sluggish vaccination rollout for the coronavirus disease 2019 (Covid-19) as factors slowing the country's economic recovery.
"The Philippine economy is the regional laggard, forecast to grow just 5.3 percent in 2021 from the 9.3-percent fall in 2020," it stressed in a analysis released on Monday.
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