The government may need to invest more in efforts to beat the coronavirus pandemic to ensure the country’s return to sustainable economic growth this year and next, according to a visiting mission of the International Monetary Fund (IMF).
In a statement on Wednesday, officials of the 190-nation multilateral funding agency also predicted that Philippine gross domestic product would expand by 5.4 percent this year and 7 percent next year—more conservative than the government’s goal of 6-7 percent and 7-9 percent for 2021 and 2022, respectively.
“Timely implementation of fiscal support—with flexibility to address evolving priorities—is crucial for continued recovery,” said the s…
Keep on reading: IMF tells PH: Invest more in fight vs pandemic