Asia Development Bank cuts growth estimates for Philippines
According to the bank, the country’s economic growth will be supported by stronger private consumption and higher government and election-related spending this year. For 2017, meanwhile, the bank expects the Philippines’ economy to expand 6.1%.
The ADB also reported that inflation is expected to stand at around 2.3% this year. In the first two months of this year, Philippines’ inflation rate was reported at 1.1%.
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