ADB: PH economy to perform well despite global headwinds

Growth prospects have dimmed across Asia's emerging economies amid sharper slowdown in major economies of the world, but the Asian Development Bank (ADB) maintained its upbeat forecast for the Philippines this year. The ADB in July revised its forecast for full-year growth of Philippine gross domestic product to 6.5 percent from the 6 percent announced in April through its Asian Development Outlook 2022 report. The July forecast was kept in an update to the report launched on Wednesday. "The normalization of socioeconomic activity will usher the Philippine economy to a steady, prepandemic pace of expansion," ADB Philippines country director Kelly Bird said in a statement. "The r...

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