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This Article is From Aug 28, 2021

Philippines Extends Virus Curbs in Capital Through Sept. 7

STOCKS IN THIS STORY
Goenka Business & Finance Ltd.
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MSCI World
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SAB Events & Governance Now Media Ltd.
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MSCI AC Asia ex-Japan
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Regency Investments Ltd.
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The Philippines extended virus restrictions in the capital region until Sept. 7 as the government tries to balance the need to contain the pandemic with boosting the economy.

Metro Manila will remain under the so-called “modified enhanced community quarantine,” under which the second-toughest movement restrictions are in place, presidential spokesman Harry Roque said in statement on Saturday. While most businesses are allowed to operate, many non-essential industries such as beauty parlors and bars remain shut. The curbs were earlier set to end on Aug. 31.

Earlier this month, the government cut its economic growth forecast for this year to 4% to 5% from 6% to 7%. Officials have said that the pace of the vaccination rollout will dictate the country's economic recovery. 

The government reported 17,447 new virus cases on Friday. Hospitals across the country are under strain, with 75% of intensive-care beds occupied.

©2021 Bloomberg L.P.

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