PH economy, falls to -9.5% – PSA / NEDA

PH economy, falls to -9.5% - PSA / NEDA
PH economy, falls to -9.5% – PSA / NEDA

The government will take the current situation as an opportunity, to strengthen the economy, health care system and resiliency.

According to the National Economic and Development Authority (NEDA) Sec. Karl Kendrick Chua, not everyone expected the hit of COVID-19, which peaked in 2020, and even the Philippines was hit.

According to the Philippine Statistics Authority (PSA), it fell to -9.5% 2020 full-year growth.

Apart from the effects of COVID-19, typhoons and floods also plunged the economy due to only 2.5% growth in agriculture during the said period.

Despite these, the NEDA chief believes that we can adjust, along with changes in some traditional practices, to restore the stability of our economy.

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