The International Monetary Fund (IMF) upgraded Philippines' gross domestic product (GDP) growth forecast to 6.3% this year, from an earlier prediction of 6% in September last year, on the back of reconstruction efforts followed by typhoon Yolanda and the expected increase in merchandise exports. According to Shanaka Jayanath Peiris , IMF resident representative, the nation's GDP is projected to accelerate 6.8% last year unchanged from its September's projection The nation's GDP is likely to accelerate 6.6% next year, due to initial reconstruction needs and spending plans of the government.
Most Popular Stories
- Major Phone Makers Sign Anti-Phone-Theft Pledge
- India Recognizes Transgender People as 'Third Gender'
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Michael Bloomberg Takes Aim at the NRA
- Brands Get Caught in Bitter-Tweet Traps
- U.S. Job Market Still Needs Fed Stimulus: Yellen
- Dems in Energy States Back Away From Obama
- Depp, Pfister Are Tech Philosophers
- Man Arrested After Driving Stolen Car to Court Hearing
- U.S. Housing Starts up in March After Bitter Winter