THE Asean+3 Macroeconomic Research Office (AMRO) downgraded its 2021 Philippine economic growth projection, noting that recovery hinges on a faster vaccination program for the coronavirus disease 2019 (Covid-19) and continued fiscal support.

In its "2020 Annual Consultation Report on the Philippines" report, AMRO said the country's gross domestic product (GDP) is projected to grow by 6.4 percent, down from its earlier 6.9-percent forecast.

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