IMF: PH needs more investment in pandemic response

The International Monetary Fund (IMF) recommends that the Philippine government invest more in pandemic response efforts to ensure sustainable economic growth.

IMF predicts Philippine GDP to grow by 5.4% this year and 7% next year, which is less optimistic than the government's forecast.

Mission chief Thomas Helbling emphasized the need for timely implementation of fiscal support with flexibility to address evolving priorities.

Helbling noted that while the current fiscal deficit provides significant stimulus, more resources could be needed to help vulnerable families and businesses.

The IMF also identified potential downside risks such as supply constraints, delays in vaccinations, and external shocks like interest rate hikes.