ANZ Research on Wednesday maintained its 4.8-percent 2021 Philippine economic growth outlook, noting that the slow vaccine rollout makes the economy susceptible to a surge in coronavirus disease 2019 (Covid-19) cases, which will result in tighter quarantine measures.
"We maintain our bearish outlook for the Philippines as a host of factors, including employment, lackluster credit growth, and weak sentiment, impedes a quick recovery in 2021," ANZ Research said in a report.
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