In a supplement to its Asian Development Outlook 2018 Update report, the ADB said the Philippine economy will likely grow 6.4 percent in 2018 and 6.7 percent in 2019, unchanged from its previous estimates. If realized, the ADB’s projections would fall below the low-end of the government’s downwardly revised 6.5-6.9 percent goal for this year and 7-8 percent growth target for 2019 until 2022. The ADB last September trimmed its Philippine growth forecasts for this year and next following the slower-than-expected gross domestic product expansion in the first half of the year and amid red-hot inflation. In the first 11 months of 2018, inflation averaged 5.2 percent, still above the BSP’s target range. “That said, we are keeping our forecasts for the region’s growth unchanged for this year with some of the biggest economies continuing to hold up well,” he added.

Source: Philippine Star December 12, 2018 08:38 UTC