ADB : PH growth second fastest in Southeast Asia

ADB : PH growth second fastest in Southeast Asia

Philippines is right on course, thanks to the Duterte administration.
Strong political leadership, Peace and Order, infrastructure boom with our Build Build Build, and strong policies against graft and corruption we are expected to become the second fastest economy in Southeast Asia over the next years.
(photo credit to owner)

The Philippines after Vietnam , is projected to be the second fastest as it is  supported by robust public and private investment, the Asian Development Bank (ADB) said.
ADB recently released its supplement to its Asian Development Outlook 2018 Update report earlier this month, the ADB maintained its economic growth outlook for the Philippines at 6.4 percent this year and 6.7 percent for 2019.
The Philippine gross domestic product (GDP) remained strong at 6.3 percent in the first three quarters of 2018, though moderating from 6.8 percent last year.
ADB states that investment is the biggest contributor to growth in the Philippines, followed by a strong household consumption.
The ADB also retained its growth forecast for Southeast Asia at 5.1 percent for 2018, assuming robust consumption and infrastructure investment.
“Robust domestic demand continued to drive growth in the sub-region. Infrastructure spending remained strong in Brunei Darussalam, Indonesia, the Philippines, and Thailand but declined in Malaysia,” the report said.

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