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Makati CBD skyline Steven Cochrane, Moody’s Analytics chief economist for Asia-Pacific said that heightened social distancing restrictions amid threats posed by the Delta variant is now adversely affecting Asia-Pacific economies, including the Philippines. But Cochrane particularly took note of the situations in the Philippines and India where “downside risks are considerable” in the second-half of the year and into 2022. The Moody’s Analytics economist explained that India and the Philippines “seeming outsize gains” this year are mainly on base effects following the very deep recessions in 2020 due to lengthy economic shutdowns. Likewise, Cochrane noted that “only modest fiscal support” was provided by the governments of India and the Philippines to small and medium enterprises (SMEs) as well as low income households.

Metro manilaPhilippines generalSteven cochraneCarlosg dominguezPresident duterteமெட்ரோ மணிலாஸ்டீவன் கோக்ரேன்