By Cielito F. Habito

Philippine Daily Inquirer-Jun 26,

Where the informal sector (aka underground economy) is large, the ongoing pandemic will especially take a heavy humanitarian and economic toll, the World Bank tells us. Like most everyone else, the global financial institution has just downgraded the world economic outlook in its latest edition of “Global Economic Prospects.” It now projects world GDP to fall by 5.2 percent this year, with a deeper contraction (-7 percent) to happen in advanced economies.

Read more at: https://opinion.inquirer.net/131165/informal-sector-bane-and-boon#ixzz6QRgRGl9R