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

IMF cuts India's growth projection to 6.8 pct this year

STORY: IMF cuts India's growth projection to 6.8 pct this year DATELINE: Oct. 12, 2022 LENGTH: 00:01:38 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of government buildings 2. various of market areas 3. various of Reserve Bank of India 4. various of containers STORYLINE: The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 percent. This was the second time that the IMF lowered India's growth forecast this year. In July, the IMF projected a gross domestic product (GDP) growth of 7.4 percent for India in the fiscal year beginning April 2022. The forecast was lower than 8.2 percent projected in January this year. India grew by 8.7 percent in the 2021-22 fiscal year (April 2021 to March 2022). In its annual World Economic Outlook report released on Tuesday, the IMF said that the outlook for India is a growth of 6.8 percent in 2022, a 0.6 percentage point slide from the July forecast, reflecting a weaker-than-expected outturn