6 days GDP growth projected to slide to 2.6% in 2020 Inquirer
The Washington-based global financial industry association Institute of International Finance (IIF) expects the Philippines' economic growth to slide to 2.6 percent in 2020 while expansion across emerging market (EM) Asia would fall to its lowest since the Asian financial crisis in 1997-1998, no thanks to the COVID-19 pandemic. In a March 24 report titled "EM Asia And LatAm Growth Under COVID-19," the IIF slashed its 2020 gross domestic product (GDP) growth forecast for the Philippines from 6.2 percent previously. The government had set its growth target for this year at 6.5 to 7.5 percent, but the latest estimates of state ... more