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IMF upgrades Philippines' GDP growth forecast to 6.3% for 2014

January 28, 2014

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.

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Source: IntelliNews - Weekly Reports

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