Another Financial Services company, this time the Japanese company Nomura has released their prediction of the Philippines’ Gross Domestic Product (GDP) this year which they project to be only 1.6-3%, very far from the Government’s target of 6.5-7.5%.
This low growth is because of the Quarantine of Luzon to contain the Corona Virus Disease 2019 (Covid-19) outbreak. Nomura warns that if the Quarantine is extended by another month, the GDP could in fact contract by -1.9%.
The expected low GDP growth figures of the Country is likely to have some negative consequences for the modernization of the Armed Forces of the Philippines (AFP).
SOURCE: COVID-19, Luzon lockdown seen to pull GDP growth down to lowest level since 2009
Check out my Links: https://linktr.ee/rhk111
This low growth is because of the Quarantine of Luzon to contain the Corona Virus Disease 2019 (Covid-19) outbreak. Nomura warns that if the Quarantine is extended by another month, the GDP could in fact contract by -1.9%.
The expected low GDP growth figures of the Country is likely to have some negative consequences for the modernization of the Armed Forces of the Philippines (AFP).
SOURCE: COVID-19, Luzon lockdown seen to pull GDP growth down to lowest level since 2009
Check out my Links: https://linktr.ee/rhk111
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