Philippines to post robust growth despite inflation pressures: ADB

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Philippines to post robust growth despite inflation pressures: ADB

STORY: Philippines to post robust growth despite inflation pressures: ADB DATELINE: April 4, 2023 LENGTH: 00:02:20 LOCATION: Manila CATEGORY: ECONOMY SHOTLIST: 1. various of ADB headquarters 2. various of street views of Manila STORYLINE: Philippine economic growth is expected to remain in a healthy expansion mode this year from 2022's forecast-beating outturn, underpinned by rising domestic demand and a recovery in services, particularly tourism, according to a new Asian Development Bank (ADB) report released on Tuesday. Asian Development Outlook (ADO) April 2023, the ADB's flagship economic publication, expects the Philippine economy to grow by 6.0 percent this year, climbing further by 6.2 percent in 2024. The report says a recovery in employment and retail trade, sustained expansion in the manufacturing sector, and rising public infrastructure spending will support growth. However, it warns that risks from a sharper-than-expected slowdown in major advanced economies, heightened geopolitical

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