IMF sees 6% PH growth
By Michelle V. Remo
The International Monetary Fund (IMF) has raised its 2013 growth forecast for the Philippines, citing robust consumer spending and rising domestic investments.
The International Monetary Fund (IMF) has raised its 2013 growth forecast for the Philippines, citing robust consumer spending and rising domestic investments.
Moody’s Investors Service has upgraded its growth forecast for the Philippines for this year from 5.5 to 6.3 percent, citing favorable developments in the domestic economy that have beaten most expectations.
Global growth is set for a sharp slowdown next year and the eurozone debt crisis “remains the greatest threat to the world economy at present,” the OECD warned on Tuesday.
South Korea’s central bank cut its key interest rate Thursday for the second time this year and slashed growth forecasts as Asia’s fourth-largest economy faces mounting threats from the protracted debt crisis in Europe and a worsening global slowdown.
International credit watcher Standard & Poor’s raised its growth forecast for the Philippines for 2012, even as it downgraded its outlook for other economies in Asia and the Pacific, saying the country has the capability to withstand unfavorable developments in the global economy.
First Metro Investment Corp. (FMIC), a subsidiary of the Metrobank group, has upgraded its economic growth outlook for the Philippines for 2012 to 6-7 percent, from its earlier forecast of 5-6 percent, given the stronger-than-expected first-quarter output.
The Asian Development Bank has slashed its growth forecasts for the Philippines for this year and next, saying the economy may no longer expand as fast as earlier expected because the lackluster global economic picture is dampening its exports. For 2011, ADB has cut its growth projection to 4.7 percent from 5.1 percent, saying the [...]
