MANILA, Philippines — The Philippines is seen avoiding a slowdown in its economic rebound in the third quarter amid relatively lower COVID-19 infections compared to its neighbors suffering from surges and with mass vaccination picking up, UK-based think tank Pantheon Macroeconomics said.
The Philippines would also likely join Indonesia and Thailand in achieving herd immunity by next year instead of 2023, Pantheon Macroeconomics senior Asia economist Miguel Chanco said in a report Monday.
Recovery
“Like India, the Philippines bore the brunt of its second wave in the second quarter, so its economic recovery is unlikely to face acute virus headwinds in the current quarter,” Chanco said.
Pantheon Macroeconomics had projected the Philippines’ gross domestic product to have grown 15 percent year-on-year during the second quarter mainly due to last year’s trough when GDP (gross…
