THE International Monetary Fund (IMF) slashed its 2021 Philippine economic growth forecast to take into account the slow recovery and stricter quarantine measures imposed in the first half of the year.During the Virtual 2021 Article IV Mission to the Philippines briefing on Wednesday, IMF Asia and Pacific Division Chief Thomas Helbling said the economy is now forecast to grow by 5.4 percent this year, significantly lower than the 6.9 percent earlier projection.'The reason for this is we see a slow recovery in the first half of 2021 before picking up in the second half of this year. Slowing recovery in the first half is mostly due to the second wave peak in April, which necessitated some stricter quarantine measures,' said Helbling.
