ManilaTimes-Apr 20

Moody’s Analytics sees rising Covid cases, vaccine shortage as key reasons. The Philippines will be one of the weakest performers in the Asia-Pacific region this year as the country struggles to contain the spread of coronavirus disease 2019 (Covid-19) and faces a severe vaccine shortage, Moody’s Analytics said. “The lack of control of the pandemic, the inability to acquire vaccines, and the relative distance from export supply chains all factor into the outlook for the Philippines to be among the weakest in the region,” it said. Moody’s said the Philippines and Thailand, which are less dependent upon goods exports and have seen little improvement in the pace of goods they export, will have to depend on the eventual opening of international travel and tourism. In the case of the Philippines, Moody’s Analytics said the country will depend on service exports such as business processing and software services.

Read more at: https://www.manilatimes.net/2021/04/20/business/business-top/ph-weakest-performer-in-asia-pacific/865865/