MANILA, July 20 (Xinhua): The Asian Development Bank (ADB) maintained the growth forecast for the Philippines at 4.5 per cent in 2021 and 5.5 per cent in 2022, according to an update to the Asian Development Outlook 2021 report released on Tuesday by the Manila-based bank.
"Sustained government spending on infrastructure and social assistance programs is supporting recovery, as did a gradual pickup in household spending aided by strong remittances," noted the report.
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