Philippine economy could contract in 2020 due to coronavirus outbreak

Reuters
Growth this year could be between -0.6% to +4.3% without mitigating measures. (File/AFP)
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  • The estimates assumed that the adverse impact of the fast-spreading virus will be felt until June

MANILA: The Philippine economy could contract this year as a consequence of the coronavirus outbreak, the economic planning agency said in a report made public on Tuesday.
Growth this year could be between -0.6% to +4.3% without mitigating measures, the agency said, adding the estimates assumed that the adverse impact of the fast-spreading virus will be felt until June.

Topics: Philippines economy Coronavirus