Positive Outlook from the Asian Development Bank
THE Asian Development Bank (ADB) has projected a 5 percent growth in the Philippines Gross Domestic Product (GDP) over the next three years in the face of a strong economic rebound in the region.
Despite high oil prices and the devastating tsunami, the ADB projects that developing countries in Asia will experience robust growth in 2005 and continue a healthy expansion in 2006-2007. It says the Asian region should achieve an overall economic expansion of 6.5 to 6.9 percent in 2005-2007 on the back of buoyant domestic demand and further strengthening of intra-regional trade.
The upbeat outlook draws on the strong growth momentum gained through spectacular economic …
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Publication information: Article title: Positive Outlook from the Asian Development Bank. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: April 29, 2005. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2005 Gale Group.