Business

Balisacan: Economic slump to last through September

Philippine Competition Commission chief Arsenio Balisacan had strong feelings about the country’s dismal economic performance in the first quarter.

Philippine Competition Commission chief Arsenio Balisacan had strong feelings about the country’s dismal economic performance in the first quarter.

The Philippine economy took a 0.2% dive in January to March, ending decades-long growth streak.

He thinks that while the worst has yet to come, the country can still rise above it.

“Unexpectedly sharp fall to negative territory in the 1st quarter and will likely stay there for the next 2 quarters. Is the high growth episode of the last 10 years over?,” Balisacan said.

“We can recover, so long as we don’t squander the good economic fundamentals built over the last 2 decades,” he noted.

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