Philippines economy to grow 5.3% this year

Philippines economy to grow 5.3% this year - IMF

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1970-01-01 08:00

MANILA The International Monetary Fund (IMF) cut its economic growth forecast for the Philippines this year to 5.3%

MANILA The International Monetary Fund (IMF) cut its economic growth forecast for the Philippines this year to 5.3% from its 6.2% projection in July.

Next year the Philippine economy is projected to expand 6.0%, faster than its previous estimate of 5.5%, IMF said in a statement.

(Reporting by Karen Lema and Mikha Flores)