ADB cuts PH 2019 growth forecast to 6.2% even as lender sees easing inflation

MANILA, Philippines -- The Asian Development Bank (ADB) has cut to 6.2 percent its 2019 growth forecast for the Philippines mainly due to government underspending at the start of the year that dragged first-quarter economic expansion to a four-year low. The Manila-based multilateral lender's Asian Development Outlook Supplement report released Thursday showed a lower gross domestic product (GDP) growth projection for this year from 6.4 percent previously, even as it kept the 2020 forecast at a now faster 6.4 percent. The ADB's 2019 GDP growth forecast for the Philippines matched the actual 6.2 percent expansion posted last year, although it was the slowest rate in three years. "...

Keep on reading: ADB cuts PH 2019 growth forecast to 6.2% even as lender sees easing inflation

from INQUIRER.net https://ift.tt/2XT8BXm