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Philippine c.bank sees economy easing in 2020, U-shaped recovery in 2021

Published 04/25/2020, 02:52 PM
Updated 04/25/2020, 03:00 PM

MANILA, April 25 (Reuters) - The Philippine central bank
said on Saturday that the country's economy would decelerate
this year before posting a U-shaped recovery in 2021.
In a statement, the central bank said the Philippine
economy, among the fastest growing in Asia under normal
circumstances, is expected to shrink by 0.2% in 2020 before
bouncing back to about 7.7% as policy support measures gain
traction.
The economic recovery would follow a U-shaped path in 2021,
following a slowdown in the first quarter and contractions in
the next two quarters of this year, central bank Governor
Benjamin Diokno said in a statement.

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