This May 8, 2020 file photo shows the Makati City skyline as seen from Antipolo City, Rizal province. Business activities in the country's financial center and elsewhere have been at a virtual standstill since the government put Luzon and other parts of the country under quarantine in mid-March to curb the spread of the coronavirus disease 2019. PHOTO BY J. GERARD SEGUIA
The Philippine economy is expected to contract by almost 20 percent in the second quarter and could become one of the “worst-performing economies” this year, according to Capital Economics.