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IMF sees Philippine GDP growth of 6.3% in January

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Christian Fernsby ▼ | February 12, 2020
Philippine economic growth could still pick up in the first three months of 2020 despite the expected negative impact of Wuhan coronavirus, according to the International Monetary Fund (IMF).
Yongzheng Yang
Business   IMF Resident Representative Yongzheng Yang
In a briefing yesterday, IMF Resident Representative Yongzheng Yang told reporters that the multilateral lender’s “annual growth rate forecast [for the Philippines] is 6.3 percent, so we expect [first] quarter growth to be around that [rate and] taking [into] account what impact we may expect from the outbreak of the virus…”

Topics: IMF Philippine GDP

His projection is lower that the 6.4 percent registered in the fourth quarter of 2019, but higher than the 5.6 percent posted a year earlier.

Echoing the government, Yang said the country’s tourism sector was among those that would be immediately affected by the outbreak.

“The coronavirus, as you know, has caused a lot of anxieties and restrictions on travel. The Philippine economy, as you know, is not immune to that,” he noted.