MOODY'S Investor Service further adjusted its growth forecast for the Philippine economy this year because of the impact of the enhanced community quarantine to domestic demand.

“For the Philippines, we expect a sharp slowdown in growth this year, with real GDP (gross domestic product) growth decelerating to 2.5 percent in 2020, which incorporates the curtailment of domestic demand from the imposition of the ‘enhanced community quarantine’ on the entire northern island of Luzon,” it said in a report released on Wednesday.

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