The two-week lockdown of the Philippine capital this month will likely slow full-year economic growth to 6% to 7%, central bank Governor Benjamin Diokno said on Wednesday.
The Philippines has set a 6.5% to 7.5% target this year, recovering from last year’s record 9.5% contraction. The capital region and nearby provinces returned to tighter restrictions from March 29 to April 11 to slow the sharp rise in COVID-19 cases.
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