PH economy to grow even faster for 2018, 2019 — ADB

There is no way but up for the Philippine economy.

Experts at the Asian Development Bank (ADB) voiced optimism that the Philippines will remain on a solid growth path, with indicators pointing to even faster expansion over the next two years.

ADB sees growth logging 6.8 percent this 2018 and 6.9 percent by next year, which will take off from 2017’s 6.7 percent.

“There’s even further room for the Philippine economy to grow,” Ramesh Subramaniam, ADB Director General for Southeast Asia, said in a statement.

Rising labor productivity plus inceased investments in manufacturing and technology are fuelling more buoyant economic activity for the Philippines, he added.

Technology is also the main focus of ADB’s annual meeting from May 3-6 in Manila, where thousands of government, private sector, and civil society delegates gathered for sessions on inclusive growth and development.