ADB hikes PH growth forecast

By Mayvelin U. Caraballo

Jul 22, 2022 12:20 am

THE Asian Development Bank (ADB) now expects the Philippine economy to hit the lower end of the government's 2022 target.

'The growth forecast for the Philippines is raised from 6.0 percent to 6.5 percent for 2022 on a stronger-than-expected Q1 (first quarter) performance, underpinned by rebounds in investment and household consumption,' the Manila-based multilateral said in its Asian Development Outlook 2022 Supplement released on Thursday.

The Asian Development Bank Building in Ortigas Center. PHOTO BY MIKE DE JUAN

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