The Philippines faces a “dirty L”-shaped recovery from the coronavirus disease 2019 (Covid-19) pandemic and it would take years for it to return to posting economic growth of 6 percent, according to an ING Bank Manila economist on Friday.
This comes after Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said this recovery could be challenged by four “potential headwinds,” including prolonged quarantines that have been imposed to contain the spread of the highly contagious illness.
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