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MANILA: The International Monetary Fund said on Monday it had reduced its growth forecasts for the Philippine economy this year and the next to 3.7 percent and 4.2 percent, after weak public investment and exports in the first nine months of 2011.
The IMF had estimated growth of 4.7 percent and 4.9 percent for 2011 and 2012 for the Philippines in its World Economic Outlook report in September.
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