ADB raises PH growth forecastsThe Asian Development Bank (ADB) expects the country’s economic growth would remain robust in the next two years due to strong investment, private consumption, and the government plan to accelerate spending on infrastructure and human capital. (adb.org / mb.com.ph) ADB Logo (L); Richard Bolt, ADB country director for the Philippines (R)(adb.org / mb.com.ph)The country’s growth is seen dipping back slightly to 6.2 percent next year, but is still above the previous forecast of 6.1 percent. “The outlook for the Philippine economy remains strong amid buoyant investment and domestic consumption,” Richard Bolt, ADB country director for the Philippines said in a statement. Inflation meanwhile is expected to remain subdued at 1.8 percent for 2016, below the previous ADB forecast, with the impact of the drought on food prices less than anticipated. ADB said the key risks to the outlook include weaker than expected demand from major markets for Philippine exports.

Source: Manila Bulletin September 27, 2016 05:48 UTC