Bloomberg News

Philippines Plans to Cut Economic Growth Forecasts, Star Reports

October 11, 2011

Oct. 12 (Bloomberg) -- The Philippines plans to cut this year’s economic growth forecast to a range of 4.4 percent to 5.4 percent and to between 5 percent to 6 percent in 2012, local newspaper Philippine Star reported, citing documents from the government’s Development Budget Coordination Committee.

The growth assumption used in the budget was 5 percent to 6 percent in 2011 and 5.5 percent to 6.5 percent next year, the newspaper reported.

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net


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