World bank Communications Officer Dave Llorito (left) and Research Analyst Joseph Louie Limkin at the East Asia and Pacific (EAP) Economic Update held at the International Finance Corp. in bonifacio Global City (bGC) on Monday. PHOTO BY ABBY PALMONES
World bank Communications Officer Dave Llorito (left) and Research Analyst Joseph Louie Limkin at the East Asia and Pacific (EAP) Economic Update held at the International Finance Corp. in bonifacio Global City (bGC) on Monday. PHOTO BY ABBY PALMONES

World Bank Group has cut its Philippine growth forecasts for 2015 and 2016, citing weak first-half results traced to slow government spending, poor exports performance and the impact of the El Niño weather phenomenon.

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