Manila, Oct. 17 -- An official of Ayala-led Bank of the Philippine Island (BPI) is optimistic about the improvement of the Philippine economy next year, with growth projected at 6.4 percent from the forecast expansion of 5.9 percent.
These growth forecasts are, however, lower than the government's 6 to 7-percent target for this year and 7 to 8-percent goal for next year until 2022.
In a briefing Thursday, BPI lead economist Jun Neri said growth is expected to improve in 2020, as he discounts a similar situation that happened this year when the proposed national budget was approved late.
Growth, as measured by gross domestic product (GDP), slipped to 5.5 percent in the first half of this year from six percent levels in recent years due to...