(C) Flickr, Asian Development Bank
Last updated on January 17th, 2021 at 04:23 am
Entering the year must be full of hopes and expectations but through the observation in the midst of a continuous pandemic, The Philippines is expected to be the last Asia-Pacific nation to fully rebound from the pandemic-induced contraction, with a recovery projected only in the fourth quarter of 2022, although other economies are set to restore all their lost production by the end of this year.
The deep contraction and unclear fiscal assistance from the policymakers, the Philippines, and India are predicted to fail. By the fourth quarter of next year, the research arm of Moody’s sees the Philippines completely recovered and India in the first quarter of next year.
Looking at it, The trend of recovery and eventual economic development is as varied as the effect of the pandemic crisis has been in the country this year. China, Taiwan, and Vietnam have already restored their lost production and are expected to increase further in the coming year.
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