Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno still believes the country’s economic recovery from the coronavirus pandemic would be shaped like a hockey stick despite the reimposition of a stricter lockdown on Metro Manila and nearby provinces. It (recovery) will still be hockey stick-like,” he explained. Recovery is described as hockey stick-shaped if there is a sharp and sudden increase in domestic output after a long period of linear growth. Despite his optimism, Diokno said the pandemic remained a public health issue with monumental economic implications. If correct, it would surpass the government’s revised assumption of a 2- to 3.4-percent contraction for 2020.

Source: Manila Times August 04, 2020 18:02 UTC