Economy will remain in catch-up mode

DESPITE the improving Covid-19 pandemic scenario in the country, the Philippine economy would continue in catch-up mode, Capital Economics said.

"While pandemic disruption is now largely in the rear-view mirror," it noted in a report, "a huge toll from past disruption means output is set to remain permanently behind its pre-crisis trajectory." Despite a big Omicron wave in January, the country's gross domestic product (GDP) likely increased in the first quarter of this year, the research consultancy company added.