The International Monetary Fund (IMF) forecasted a strong recovery for the Philippines for this year and sustained growth through 2022.

In its latest World Economic Outlook (WEO), the global monetary authority said the Philippines is likely to grow by 6.9 percent for this year, up from the contraction of 9.5 percent in 2020.

The new forecast is an upward revision from the 6.6-percent IMF forecast for the Philippines’s 2021 gross domestic product (GDP) growth.

For next year, the IMF kept its 6.5-percent projection for the country’s growth.

Source: Business Mirror dated 07 April 2021

https://businessmirror.com.ph/2021/04/07/imf-hikes-phl-growth-forecast-to-6-9-this-year/