IMF keeps 6% PH growth forecast

The International Monetary Fund (IMF) at the conclusion of its 2016 Article IV Consultation Mission to the Philippines said it still sees the economy growing by 6 percent this year, but needs a new medium-term strategy to boost growth even further.

“The Philippine economy has performed well, but there is scope to do even better. Real GDP [gross domestic product] regained strength from a slowdown in mid-2015 to record a robust 6.9 percent in the first quarter of 2016, in line with our 6 percent year-on-year growth forecast for 2016 as a whole,” Chikahisa Sumi, IMF mission chief, said in a press conference on Tuesday.