IMF cuts PH forecast, lowers global outlookhome/Business/Top Business/IMF cuts PH forecast, lowers global outlookThe International Monetary Fund (IMF) on Tuesday joined other multilateral institutions in lowering its 2019 Philippine growth forecast. In its April 2019 World Economic Outlook (WEO), the Washington-based lender trimmed this year’s projection to 6.5 percent, from 6.6 percent previously, in line with lowered global growth expectations. For 2020, the IMF expects Philippine economic growth to hit 6.6 percent. The 2019 and 2020 global growth projections are 0.4 and 0.1 percentage points lower than the previous estimates. Philippine economic growth hit 6.2 percent last year, dropping from 6.7 percent in 2017 and missing the government’s downwardly-revised 6.5-6.9 percent target, as surging inflation dampened consumer spending.

Source: Manila Times April 09, 2019 16:30 UTC