{"id":274308,"date":"2020-11-06T03:44:12","date_gmt":"2020-11-06T08:44:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=274308"},"modified":"2020-11-06T03:44:12","modified_gmt":"2020-11-06T08:44:12","slug":"diokno-expects-ph-economys-full-recovery-by-2022","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/11\/06\/diokno-expects-ph-economys-full-recovery-by-2022\/","title":{"rendered":"Diokno expects PH economy’s full recovery by 2022"},"content":{"rendered":"
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FILE: Bangko Sentral ng Pilipinas Governor Benjamin Diokno (PNA Photo)<\/figcaption><\/figure>\n

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MANILA<\/strong>\u00a0\u2013 The growth normalization of the Philippine economy may be expected by 2022, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday.<\/div>\n
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Diokno said the third quarter 2020 growth is expected to be better than the -16.5 percent in the second quarter, and 2021 will be a recovery year.<\/div>\n
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\u201cWe expect the economy to bounce back by maybe between 6.5-7.5 percent (in 2021) but that means we have not fully recovered. Full recovery will take place in 2022,\u201d he said during a virtual briefing.<\/div>\n
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Economic managers forecast a 5.5-percent contraction for the domestic economy, as measured by gross domestic product (GDP), for this year on account of the pandemic.<\/div>\n
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Pre-pandemic, the domestic economy posted expansions of over 6 percent.<\/div>\n
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Based on the announcement of the inter-agency Development Budget Coordination Committee (DBCC) last December, the GDP was projected to accelerate at 6.5 to 7.5 percent from 2020-2022.<\/div>\n
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In a meeting last May 12, these figures have been revised to -3.4 to -2 percent for 2020, 7.1 to 8.1 percent\u00a0 for 2021, and 7 to 8 percent for 2022.<\/div>\n
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However, in a meeting last May 27, economic managers changed the 2021 and 2022 growth projections to 8 to 9 percent and 6 to 7 percent, respectively.<\/div>\n
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Revisions were again made last July 28, with the 2020 growth projection now between\u00a0 4.5 to 6.6 percent, and the 2021 to 2022 figures between 6.5 to 7.5 percent.<\/div>\n","protected":false},"excerpt":{"rendered":"

  MANILA\u00a0\u2013 The growth normalization of the Philippine economy may be expected by 2022, Bangko Sentral ng Pilipinas (BSP) Governor …<\/p>\n","protected":false},"author":44,"featured_media":261661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-274308","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=274308"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274308\/revisions"}],"predecessor-version":[{"id":274309,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274308\/revisions\/274309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/261661"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=274308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=274308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=274308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}