Economics

Philippines Cuts GDP Growth Outlook Amid Tough Virus Fight

Downgrade comes after 1Q contraction was bigger than expected
Philippines seen among slowest economies in region to recover

Commuters wait for public transport in Quezon City, Manila, the Philippines. — Commuters wait for public transport in Quezon City, Manila, the Philippines.
Photographer: Veejay Villafranca/Bloomberg

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By Siegfrid Alegado and Andreo Calonzo

May 18, 2021 at 9:00 AM UTC

Updated on

May 18, 2021 at 9:28 AM UTC

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The Philippine government cut its economic outlook for this year and next as it struggles with a surge in coronavirus cases that threatens its recovery.