Daily News

PH economy may lose up to P1.2 Tn

New data from the Asian Development Banks (ADB) showed potential economic losses in the Philippines could range from $12.9 billion up to $23.9 billion, depending on the length of time it takes for the country to contain the coronavirus disease 2019 (COVID-19) outbreak and the government’s policy response. Without the government’s policy measures, the ADB estimated economic losses would reach between $15.701-$23.941 billion (P796 billion and P1.213 trillion) — representing 3.9%-6% of gross domestic product (GDP). The extent of the losses would depend on the length of the containment period — whether three or six months.