IMF cuts PH GDP growth forecast

        Due to slower-than-expected second-quarter expansion, the International Monetary Fund (IMF) has cut its 2018 gross domestic product (GDP) growth projection for the Philippines to 6.5 percent.   In a press conference Friday, IMF resident representative in the Philippines Yongzheng Yang said the multilateral lender downgraded its forecast for this year from 6.7 percent previously as first-half growth averaged only 6.3 percent.   The GDP grew by 6 percent in the second quarter, the slowest in three years, such that the first-half average fell below the government's 7-8 percent target range.   Yang nonetheless said ...

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