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Philippines to reopen economy further by Q4, worst over - c.bank

Published 09/11/2020, 01:22 PM
Updated 09/11/2020, 01:30 PM
© Reuters.

MANILA, Sept 11 (Reuters) - The Philippine economy "will be
more open" in the last quarter of the year, the central bank
governor said on Friday, suggesting quarantine restrictions
would be eased further to allow for more business activity.
"I truly believe the worst is behind us," Bangko Sentral ng
Pilipinas Governor Benjamin Diokno said in a phone message sent
to reporters, responding to the findings of an independent
pollster that showed 40% of Filipinos believe the economy will
worsen in the next 12 months.
Diokno has previously said he expected the economy to
recover gradually after it fell into a recession for the first
time in 29 years with a record slump in the second quarter, as
strict coronavirus containment measures hit businesses and
consumers.

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