MANILA – As gross domestic product (GDP) growth contraction eased in the third quarter of the year, the country’s top trade official underscored the need to adhere to the minimum health protocol to further reopen the economy.
In a statement Wednesday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said the GDP growth in the third quarter of 2020 indicates that the country is in the right trajectory for recovery.
The GDP growth for the third quarter fell by 11.5 percent, easing from the 16.9-percent contraction in the second quarter of the year.
“We are hopeful that we will see more improvements as we continue to reopen our economy while still observing minimum health protocol,” Lopez said.
In a Cabinet meeting with President Rodrigo Duterte Tuesday, Lopez reported how the DTI pushed for the gradual and safe reopening of businesses.
Read more: https://www.pna.gov.ph/articles/1121523
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