It was also deeper than the -2.9 to -3.8 percent projection of economists earlier polled by The Manila Times. This started during the fourth quarter of 1983 where the economy declined by -3.2 percent up to the fourth quarter of 1985 with a -2.1 percent,” said Mapa. And third is the acceleration of the vaccination program,” the economic team said. “The latest economic performance shows the limit of economic recovery without any major relaxation of our quarantine policy. Thus, once the present spike is over, we can implement quarantine relaxations in a phased approach to boost our recovery this year.

Source: Manila Times May 11, 2021 16:29 UTC