IMF to PH: Spend more on infra

The International Monetary Fund (IMF) remains bullish on the Philippine economy this year due to lower commodity prices, strong private construction and export growth but it also urged the government to improve spending, particularly on infrastructure and human capital.

In a statement at the conclusion of its staff mission to the Philippines, the IMF said it now expects GDP growth of 6.7 percent for 2015 from 6.6 percent earlier “due to lower commodity prices, higher public spending, and continued strong private construction and export growth.”