The International Monetary Fund (IMF) maintained its 2019 growth forecast for the Philippines at 5.7%. The agency also raised their 2020 projection from 6.2% to 6.3%. IMF Mission Chief Thomas Helbling attributed the better outlook to the increased government spending on infrastructures and this year’s total of 75 basis points reduction in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates.
