Institute of International Finance sees 6.2% RP growth this year
THE economy is poised to grow by 6.2 percent this year on the back of a recovering global environment, the Institute of International Finance (IIF) said in its latest report on the country.
IIF said that aside from a recovery in the global economy, investors’ optimism on the new government also bodes well for the country.
The global research firm believes that President Aquino is likely to take the “window of opportunity” provided by favorable economic trends, in pursuing fiscal reforms that would boost gross domestic product (GDP).
It also welcomed the news that Mr. Aquino’s priority would be to address the fiscal slippage which he described as “alarming.”
IIF said the Aquino administration should be able to reverse the worsening budget deficit trend before it undermines investor confidence. (PIA-Bohol)
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