IMF slashed 2019 growth forecast for PH to 6%

MANILA, Philippines --- No thanks to the delayed implementation of the 2019 national budget coupled with the US-China trade war, the International Monetary Fund (IMF) has slashed by half a percentage point to 6 percent its 2019 growth forecast for the Philippines. "The downward revision mainly reflects weaker-than-expected external demand and weaker-than-expected public investment, partly due to the delayed approval of the 2019 budget," IMF resident representative in the Philippines Yongzheng Yang said late Wednesday, in his response to the Inquirer's emailed questions about the Washington-based multilateral institution's World Economic Outlook (WEO) Update report released Tuesday nig...

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