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Author Topic: DB keeps Philippine growth forecast  (Read 216 times)

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DB keeps Philippine growth forecast
« on: October 04, 2017, 04:15:54 PM »
DB keeps Philippine growth forecast

The Asian Development Bank (ADB) has maintained its economic growth forecast for the Philippines for this year and next as it sees no overheating of the economy. In its Asian Development Outlook 2017 Update, the Manila-based ADB retained the growth forecast of 6.5% for 2017 and 6.7% for 2018. It first made the forecast in July. Joven Balbosa, ADB principal specialist for the Philippines, said the lender is not concerned about the country's slide into a current account deficit because it can be mitigated by the continued stream of remittances from Filipinos working abroad and receipts from the business process outsourcing industry. The country's growth momentum is expected to continue through 2018 due partly to the government's strong focus on infrastructure investment.

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