ADB raises growth forecast for Philippines to 6.5 per cent in 2022

MANILA, July 23 (Xinhua): The Philippine economy is forecast to grow faster than initially expected in 2022, following the relaxation of Covid-19 mobility restrictions, the expansion of the Covid-19 vaccination programme, and a rebound in investment and household consumption, according to an Asian Development Bank (ADB) report released this week.

The Asian Development Outlook 2022 Supplement says the Philippine economy will grow at least 6.5 percent in 2022, up from the bank's April forecast of 6 percent.