WASHINGTON-BASED World Bank has cut its growth projections for the Philippine economy for this year and the next, taking into account the impact of natural disasters, slow government spending and the tightening of the financial environment in the country.

In its Philippine Economic Update released on Thursday, the World Bank said its growth projections for the country were revised downward to 6.4 percent from 6.6 percent for 2014 and to 6.7 percent from 6.9 percent for 2015.

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