Philippines’ economic slump saddens Palace
Malacañang on Tuesday said it was saddened by the 11.5 percent contraction of the Philippine economy.

Philippines’ economic slump saddens Palace

Share on facebook
Share on google
Share on twitter
Share on linkedin

By Prince Golez

Malacañang on Tuesday said it was saddened by the 11.5 percent contraction of the Philippine economy.

According to the Philippine Statistics Authority, the country’s gross domestic product (GDP) shrank 11.5 percent in the third quarter from a contraction of 16.9 percent in the second quarter.

“Siyempro po yan ay malungkot pa ring balita. Pero yan ay improvement dun sa 16.9 na pagbaba ng ating ekonomiya nung second quarter,” Presidential Spokesperson Harry Roque said during a televised briefing.

Roque pointed out that the improvement from the previous quarter showed that the “worst is over.”

“Nagre-recover na po ang ating ekonomiya. Bahagyang umangat na ang ating ekonomiya. Nagpapatunay po na that the worst is over,” he added.

The official attributed the economic slowdown to the previous imposition of Modified Enhanced Community Quarantine in Metro Manila and other provinces in Calabarzon.

Leave a Comment

POLITIKO / Live!

Share on facebook
Share on twitter
Share on reddit
Share on whatsapp
Share on email

POLITIKO / Across the Nation

POLITIKO / Latest News

Trending News

MCD MULTI MEDIA/ Network

Weekly Sports News

Sign up for our Newsletter

We are a social news blog where politikos, their kin, friends and allies are the center of the universe. We write about their words and deeds, likes and dislikes, dreams and fears. We are here to entertain, provoke and hopefully inform you along the way.

Disclaimer