Dissecting Data: Looking back at the Philippine economy in 2020

Warren de Guzman and Edson Guido, ABS-CBN News

The Philippine economy averaged a growth rate of -10 percent in the first nine months of 2020, and we won’t know how the last quarter went until 2021. The Philippine government’s Development Budget Coordination Committee however has lowered its GDP growth forecast for 2020 to between -8.5 and -9.5 percent, from an earlier forecast of -5.5 percent. That would be the worst performance ever, based on records going back to the 1940’s.

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img src='http://sa.kapamilya.com/absnews/abscbnnews/media/2020/news/12/29/20200625-covid19-quarantine-jeepney-7392-md.jpg?ext=.jpg' ><figcaption>Jeepney drivers living in UP Daang Tubo, servicing the Cubao-Rosario route, ask for aid along C.P. Garcia Avenue in Quezon City on June 25, 2020. Many jeepney drivers resort to begging after three months on lockdown as they say they have not received government financial aid and the government continues to ban jeeps from serving commuters. Mark Demayo, ABS-CBN News</figcaption></figure></div>2020 was a record year, a year like no other, for all the wrong reasons.

2020 was a record year, a year like no other, for all the wrong reasons.

Dissecting Data: Looking back at the Philippine economy in 2020 | ABS-CBN News

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Dissecting Data: Looking back at the Philippine economy in 2020

Dissecting Data: Looking back at the Philippine economy in 2020