THE Asian Development Bank (ADB) remains optimistic about the country's economic performance for this year and the next despite geopolitical tensions, mounting trade worries and severe weather events.
THE Asian Development Bank remains optimistic about the country's economic performance for this year and the next despite geopolitical tensions, mounting trade worries and severe weather events.'Other Southeast Asian economies like Indonesia and the Philippines are on track to meet previous growth forecasts,' the Manila-based lender said in the December update of its Asian Development Outlook.The ADB kept its growth forecasts for the country at 6.0 percent and 6.
2 percent in the third quarter, due in part to the storms that battered the country, damaged agricultural output and delayed infrastructure projects.These also affected consumer price growth, which accelerated to 2.5 percent in November from 2.3 percent in October. However, it remained within the 2.0- to 4.0-percent target of the Bangko Sentral ng Pilipinas.
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