Development Budget Coordination Committee said on Wednesday, May 13, that
While the country is diving into a recession in 2020, growth for 2021 is seen to soar by 7.1% to 8.1%, assuming that a well-targeted recovery program, alongside efforts of the private sector, would mitigate the pandemic's impact. Disbursements are estimated to reach P4.18 trillion, 21.7% of GDP. This slightly exceeds the program approved in March by P12 billion or 0.3% of GDP.
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