'Worst is over,' Palace says after economy shrinks in third quarter


Posted at Nov 10 2020 03:15 PM

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Malacañang said Tuesday the worst was "over" after the Philippine economy shrank for the third straight quarter (July-September) with the lingering COVID-19 pandemic. 

Presidential Spokesperson Harry Roque said the economic contraction was due to the temporary return to stricter lockdown of several neighboring provinces, which account for about a third of the gross domestic product.

Watch part of his press briefing here.