IMF sees PH Q1 GDP at 6.3%

The International Monetary Fund (IMF) projects the Philippine economy to grow by 6.3% in Q1 2020 despite the impact of the novel coronavirus on tourism.

China, a major source of tourists for the Philippines, has imposed travel bans affecting arrivals from and through China, Hong Kong, and Macau.

The IMF resident representative noted that while specific figures are not available, economic managers estimate the virus could have an impact of about 0.3% of GDP.