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Philippine economy experiencing golden age but risks remain

Philippine economy experiencing golden age but risks remain

MANILA:  The Philippine economy is going through a “golden age,” the Asian Development Bank said on Wednesday, with the country’s growth seen outpacing its peers in the region on the back of strong investment and domestic consumption.

“I think I would call it a golden age for the Philippines because it is growing in a very sound macroeconomic policy framework,” Kelly Bird, ADB Philippine Country Office Director, said in a press conference.

In its Asian Development Outlook for 2018, the Manila-based multilateral lender kept its 2018 growth forecast for the Philippines at 6.8 percent, faster than the 6.7 percent clip in 2017.