PH to grow by 6.8% this year despite trade war — ADB
The showdown between the United States and China would not interrupt the Philippine economy.
The Asian Development Bank (ADB) said the Philippines will keep growing by 6.8 percent this year and 6.9 percent by 2019, despite fears that a global trade war could hurt economies.
The ADB published its latest outlook on Thursday, July 19.
“The rise in protectionist trade measures from the US and countermeasures from the People?s Republic of China (PRC) and other countries poses a clear
downside risk to the outlook for developing Asia,” ADB said.
The Philippines will be second-fastest growing economy in Southeast Asia next to Vietnam’s 7.1 percent.
“Southeast Asia continues to be buoyed by robust domestic demand, particularly for private consumption and investment.”