ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Philippines eyes $3.6bn stimulus in bid to exit recession

2021 growth target lowered to 6-7% amid new COVID bout

The Philippine government aims to boost the country's post-pandemic economic recovery this year with a package of stimulus measures.    © Reuters

MANILA -- The Philippines is seeking a 170 billion pesos ($3.6 billion) pandemic stimulus program to boost its economic recovery this year, officials said on Tuesday, as they temper growth targets following disappointing first-quarter results.

President Rodrigo Duterte's economic team now expects gross domestic product to expand by 6% to 7% in 2021, slightly lower than the previous target of between 6.5% and 7.5%, as the country wrestles with new COVID-19 variants.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more