Department of Trade and Industry (DTI) Secretary Ramon Lopez is optimistic that the Philippine economy will develop a positive growth in 2021.
In a public briefing on Monday (June 14), Sec. Lopez said that the export growth of the country has increased by 72% due to the 100% operation of the export sector during the pandemic.
“We expect recovery in 2021 as early as the second, third quarter. We can expect a rebound of positive growth.”
He also anticipates the improvement of the business process outsourcing and the volume of the production index in 2021. He added that the foreign direct investment in the Philippines has also increased.
The DTI Chief hopes for the continuous decline of COVID-19 cases so that the relaxation of the quarantine restrictions, which will greatly help the economy, will be implemented.
March 8, 2021, 5:42 pm
The country’s top trade official believes that the economic recovery is still possible this year if only localized or granular lockdowns will be imposed amid the rising coronavirus disease 2019 (Covid-19) cases in the past week.
Department of Trade and Industry (DTI) Secretary Ramon Lopez said granular lockdown should be implemented in areas with a spike in Covid-19 numbers to contain the infection while allowing areas with no surge in cases to remain in status quo, even if the government is pushing for the reopening of more economic activities.
“By implementing strict protocols and localized lockdown, I think our projected rebound is still doable especially in the second and third quarter,” Lopez said in mixed English and Filipino in a radio interview Monday. Read More
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MANILA – The government’s latest move to further ease age restrictions in areas under modified general community quarantine (MGCQ) would result in increased revenues of businesses particularly the retail sector, the country’s top trade official said on Friday.In a radio interview, Department… Read More