Philippines: First quarter GDP growth may still be negative, says BSP’s Diokno

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Gross domestic product growth will likely remain weak in the first quarter, even negative, but there will be a strong rebound in the second quarter with the economy coming off a low base, the head of the Bangko Sentral ng Pilipinas said on Monday. 

“Of course, the first quarter will probably be a little bit slow, or it could be negative, slight negative or slight positive,” said BSP Governor benjamin Diokno in an interview with ANC Market Edge. 

Diokno however said GDP growth will pick up in the April to June period due to a low base effect as it was “the worst quarter last year,” Diokno added. 

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