World Bank keeps 6.5 percent growth forecast on Philippines

ABS-CBN News

Posted at Jan 28 2019 10:39 AM

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MANILA – The World Bank said Monday it kept its 6.5 percent growth forecast for the Philippines this year, while closely monitoring global and domestic risks.

The Washington-based lender's estimates are "holding firm" despite uncertainties as the East Asia Pacific region shows "sustained and prolonged" growth, said senior economist Andrew Mason.

The World Bank is monitoring the passage of the 2019 budget and ongoing tax reforms as well as the trade war between the US and China, Mason told ANC's Early Edition.

"Right now uncertainties are in many fronts, international and domestic. We’re keeping our eyes open," Mason said.

Conflict holds back development in the south bu there was no immediate impact yet from the church blast in Jolo last Sunday that killed 20 people and wounded 100 others.