Philippine economy could contract in 2020 due to coronavirus outbreak

A makeshift barricade blocks a street from outsiders to protect a neighbourhood from the spread of coronavirus disease (COVID-19) in Manila, Philippines, March 23, 2020. REUTERS/Eloisa

MANILA, March 24 (Reuters) - The Philippine economy could contract this year as a consequence of the coronavirus outbreak, the economic planning agency said in a report made public on Tuesday.

Growth this year could be between -0.6% to +4.3% without mitigating measures, the agency said, adding the estimates assumed that the adverse impact of the fast-spreading virus will be felt until June. (Reporting by Karen Lema; Editing by Kim Coghill)