ADB: Pres. Duterte's Golden Age of Infrastructure Key to High GDP Growth


The tough-talking President of the Republic of the Philippines promised to usher the country into the Golden Age of Infrastructure under his term which is considered as a good news for all Filipinos. The Asian Development Bank (ADB) on their part urged the Duterte administration to deliver his promise so that the Gross Domestic Product (GDP) of the Philippines could grow by at least 7 percent.


According to ADB's latest Asian Development Outlook (ADO) report, the Philippine Economy will expand by 6.4 percent this year and 6.6 percent next year.

Although the projection of the ADB is slightly lower compared to the target of the Duterte administration which is at 7-percent to 8-percent GDP growth for the year 2017 and 2018, the Manila-based multilateral development bank said that the Philippines will continue to enjoy economic growth in Southeast Asia.

ADB Philippine Country Office economist Aekapol Chongvilaivan said "The government's infrastructure investment is actually the cornerstone of the economic prospect in the Philippines."


Chongvilaivan said rising oil prices and the protectionist stance adopted by many countries will increase commodity prices and global trade uncertainties, which would pose a threat to the country’s economic growth, particularly this year.

The ADB also notd that the rollout of more infrastructure projects under the Duterte administration would help cushion the impacts of economic threats to the Philippines sustaining the country's high economic growth. 

The Duterte administration has yet to roll out its infrastructure projects. Most of the new projects are still being reviewed by the National Economic and Development Authority.

ADB forecasts GDP growth in Asia and the Pacific to reach 5.7 percent in 2017 and 2018, a slight deceleration from the 5.8 percent registered in 2016.

Source: BusinessMirror


ADB: Pres. Duterte's Golden Age of Infrastructure Key to High GDP Growth ADB: Pres. Duterte's Golden Age of Infrastructure Key to High GDP Growth Reviewed by Phil Newsome on 4/09/2017 Rating: 5

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