This Sept. 6, 2020 file photo shows part of Manila Bay and buildings on Roxas Boulevard, Manila. Japanese investment bank Nomura on December 9 cut its Philippine growth forecast for 2021 to 6.8 percent from 7.1 percent on continued worried over the rising number of Covid-19 cases in the country. (The Manila Times file photo)

Japanese investment bank Nomura expects the Philippines to have a slower economic recovery next year as it remains concerned over the still-growing number of coronavirus disease 2019 (Covid-19) cases in the country.

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