(Eagle News) — The Asian Development Bank forecast a “strong growth” for the Philippine economy for 2017 and 2018, with inflation predicted to pick up, and current account expected to post a surplus.
The Manila-based lender pegged Gross Domestic Product growth for 2017 at 6.4 percent, and for 2018 at 6.6 percent.
In 2016, ADB said the Philippine economy posted a 6.8-percent growth, buoyed by domestic demand.
It said in that same year, private consumption which provided for almost 70 percent of GDP, grew by 6.9 percent.
“Making growth more inclusive will require the effective implementation of the country’s development plan for 2017–2022,” the ADB said.
