Sharpest economic downturn in 4 decades


THE PHILIPPINE GROSS domestic product (GDP) dropped by 16.7% during the second quarter of 2020, the sharpest economic decline in the past 36 years.

The economic downturn follows the longest lockdown which Duterte imposed after failed to promptly and correctly manage the pandemic. The economic decline is the worst in Asia, and is considered crucial to workers and Filipino businesses.

The drop is worse than the 10.7% GDP decline in 1984, two years prior to the ouster of the Marcos regime.

Prices of commodities have surged further with Duterte’s imposition of the second en­hanced com­mu­nity qua­ran­tine in Metro Manila.

Sharpest economic downturn in 4 decades