FMIC, UA&P keep PH growth outlook

FIRST Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) maintained their 6-to 6.5-percent growth forecast for the Philippine economy this year as they expect state spending, lower inflation rate and robust remittances to drive expansion for the rest of the year.

“We still maintain our full-year 6-percent to 6.5-percent GDP (gross domestic product) growth, albeit likely to be in the lower part of that range,” FMIC and the UA&P said in the latest issue of “The Market Call” released on Friday.