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Economic recovery to start in 4Q2020, Diokno says

Economic recovery is likely to start by the fourth quarter, with growth seen in key sectors such as agriculture, construction, manufacturing, and public administration, Bangko Sentral ng Pilipinas (BSP) or central bank Governor Benjamin Diokno said. The economy contracted by 0.2% in the first quarter of the year. The government sees GDP shrinking by 2-3.4% this year, before bouncing back in 2021 with a growth of 8-9%.