Daily News

Moody’s estimates PH growth at -2%

Moody’s Investors Service adjusted downward its forecast for Philippine economic growth for 2020 but maintained its investment-grade credit rating and outlook for the country. They expect real GDP (gross domestic product) to decline by 2% in 2020, the first full-year economic contraction since 1998. Moody’s latest projection is a downward revision from its previous GDP estimate of 2.5%. If correct, the forecast would fall below the government’s revised growth assumption of -0.8 to zero% for 2020 and the 6% GDP growth in 2019.