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 country's economy is now forecast to grow by 5.4 percent this year, significantly lower than the 6.9 percent earlier projection.
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