Metro Manila (CNN Philippines, November 13) — As COVID-19 restrictions ease and more businesses reopen, the government could surpass its growth target for 2021, the National Economic and Development Authority said Saturday.
“Ma-me-meet natin ang target, that’s for sure. Pwede pa natin malampasan ang target na ‘yun,” NEDA Usec. Rosemarie Edillon said during a virtual briefing.
[Translation: We will meet our target, that’s for sure. We can even exceed it.]
The government has set the goal of 4-5% economic growth for the entire year. Year-to-date, Edillon said the Philippines is now at 4.9%.
READ: Economic growth eases to 7.1% in Q3, but govt confident 2021 target to be met
NEDA’s optimism is being buoyed by the accelerated vaccination drive against COVID-19, which allows more sectors to resume their operations at increased capacity.
Edillon said economic managers projected that the Philippine economy will rebound to pre-pandemic levels by the first quarter of 2022.
“Malaki ang pag-asa namin na ‘yun ang mangyayari. Sa ngayon nasa 95% na tayo ng pre-pandemic levels,” she said.
[Translation: We have high hopes that it will happen. We are now at 95% of pre-pandemic levels.]
