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Philippines' new lockdown will definitely impact economy: Nomura

The Philippines' government can afford to increase its fiscal spending to support its national recovery from the coronavirus pandemic, says Euben Paracuelles, chief ASEAN economist at Nomura. He also discusses Indonesia's "pretty serious" economic situation, saying its second quarter GDP will be a "huge wake-up call," with Nomura estimating a 6.1% contraction.
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