ING Bank ups 2021 PH growth estimate

ING Bank's local unit raised its Philippine gross domestic product (GDP) growth estimate for 2021, but warned that economic expansion this year is likely to fall short of the government's target.

According to Nicholas Antonio Mapa, ING Bank Manila senior economist, the Philippine economy likely grew by 5.4 percent last year, aided by a 6.7-percent increase in the GDP in the fourth quarter.