IMF downgrades PH economic growth forecast for 2019, 2020
Credit to Author: ANNA LEAH E. GONZALES| Date: Thu, 25 Jul 2019 02:56:01 +0000
WASHINGTON-based lender International Monetary Fund (IMF) cut the Philippine’s economic growth forecast for 2019 and 2020 due to weak external demand and delayed budget approval.
IMF resident representative to the Philippines Yongzheng Yang said economic growth for this year would likely hit 6.0 percent from the earlier 6.5 percent estimate.
Growth projection for 2020 was also slashed to 6.3 percent from 6.6 percent.
“The downward revisions mainly reflect weaker-than-expected external demand and weaker-than-expected public investment, partly due to the delayed approval of the 2019 budget,” said Yang.
The post IMF downgrades PH economic growth forecast for 2019, 2020 appeared first on The Manila Times Online.