Business

Philippines maintains GDP growth targets for 2021 and 2022

The Philippines has maintained its economic growth targets for this year and 2022 despite threats posed by the more contagious Delta coronavirus variant, the country's economic ministers said on Monday.

A view of Makati skyline in Manila
FILE PHOTO: A view of Makati skyline in Manila's financial district February 19, 2016. REUTERS/Erik De Castro

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MANILA: The Philippines has maintained its economic growth targets for this year and 2022 despite threats posed by the more contagious Delta coronavirus variant, the country's economic ministers said on Monday.

Gross domestic product (GDP) is expected to expand by 6.0per cent to 7.0per cent in 2021, and 7.0per cent to 9.0per cent in 2022, rebounding from a record contraction of 9.6per cent in 2020, a government inter-agency said in a statement.

The government is "optimistic that the country's GDP may return to its pre-pandemic levels as early as 2022," it added.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)

Source: Reuters