Philippine economy to grow 6% this year, monetary policy should stay tight, IMF says

Source: Market Screener

MANILA, June 10 (Reuters) - The International Monetary Fund said on Monday the Philippines' gross domestic product (GDP) is expected to rebound to 6.0% this year and 6.2% in 2025, driven by consumer demand.

The Philippines' monetary policy settings should remain sufficiently restrictive to anchor inflation expectations, the IMF said in a statement, after its team visited Manila to discuss recent economic and financial developments.

Risks to inflation remain on the upside, amid geopolitical tension and recurrent commodity price volatility, the IMF said.

The current account deficit is expected to narrow to 2.1% of GDP mainly due to a rise in goods exports and tourism, it added. (Reporting by Mikhail Flores; Editing by Bernadette Baum, Martin Petty)