The national figures are impressive. They pose a big problem for the government, including a big drop in taxes and other income. When these are totaled at the end of the year, they will be compared with those of previous years as well as the figures of other nations.
A research study undertaken by United Kingdom think tank Oxford Economics has projected the Philippine economy to contract by 5 percent this year, with two of its fellow ASEAN nations suffering even bigger contractions – Singapore, by 6 percent, Thailand by 5.7 percent.
This story is from the June 17, 2020 edition of Manila Bulletin.
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This story is from the June 17, 2020 edition of Manila Bulletin.
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