IMF trims Philip­pine growth fore­cast

New Straits Times - - Business -

MANILA: The In­ter­na­tional Mone­tary Fund (IMF) trimmed its 2017 growth fore­cast for the Philip­pines to 6.6 per cent from 6.8 per cent, cit­ing slower-than-ex­pected first-quar­ter ex­pan­sion, but was op­ti­mistic the econ­omy would grow strongly in the medium term. There is no ev­i­dence that in­vestor con­fi­dence in the Philip­pine econ­omy has been hit by se­cu­rity wor­ries, said an IMF of­fi­cial yes­ter­day. How­ever, he said rapid credit growth and strong pri­vate in­vest­ment could lead to over­heat­ing.

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