PH economic growth to pick up in 2019, says Asean economic report
PHILIPPINE economic growth is expected to pick up this year on the back of high domestic demand, the Asean+3 Macroeconomic Research Office (AMRO) said.
In its Asean+3 Regional Economic Outlook (AREO) 2019 report released on Wednesday, AMRO maintained the 6.4 percent Philippine economic growth forecast for this year.
AMRO’s projection was higher compared to the 6.2 percent economic growth last year.
The projection was also the same as the 6.4 percent forecast of the Asian Development Bank (ADB) and World Bank but slightly lower than the Internal Monetary Fund’s 6.5 percent.
“Economic growth is expected to gradually recover on the back of buoyant domestic demand,” AMRO said.
For next year, AMRO expects the Philippine economy to grow by 6.6 percent.
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