Fitch, DBS cut 2021 PH economic growth forecast

by Anna Leah E. Gonzales

Aug 11, 2021 10:55 am

FITCH Solutions and the DBS Bank Ltd. slashed their 2021 Philippine economic growth forecast, noting that the economy will continue to face disruptions due to the coronavirus disease 2019 (Covid-19) pandemic.

Fitch Solutions, in a report, said the country's gross domestic product (GDP) will likely grow by 4.2 percent this year, down from the earlier 5.3 percent projection.

ECONOMIC IMPACT EXPECTED A police officer manning the checkpoint at the Marikina City-Cainta, Rizal border along Marcos Highway checks the phone of a motorist passing through the highway on Friday. The strict quarantines imposed from the early part of this year are expected to have an impact on the country’s economic growth this year. PNA PHOTO

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