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Philippines’ central bank governor says GDP could grow 6% to 7% in 2021 – Metro US

Philippines’ central bank governor says GDP could grow 6% to 7% in 2021

FILE PHOTO: A logo of Bangko Sentral ng Pilipinas is
FILE PHOTO: A logo of Bangko Sentral ng Pilipinas is seen at their main building in Manila

MANILA (Reuters) – 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.

(Reporting by Neil Jerome Morales; Editing by Martin Petty)

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