ADB keeps 6.8% growth forecast for PH in 2018

The ADB said while credit growth slowed in the first eight months of the outgoing fiscal year demand pressures kept imports high and the resulting steady drawdown of foreign exchange reserves indicates a need for policy tightening

Teething issues related to the implementation of Goods and Services Tax (GST), which hampered operations of small and medium sized enterprises and exporters, also contributed to growth moderation.

"Diversifying exports away from readymade garments and promoting labour intensive manufacturing would help expand industry and underpin continued high economic growth", the ADB country director added.

The ADB now expects China's economy to grow 6.6 percent this year, faster than the bank's prior estimate of 6.4 percent made in December, and by 6.4 percent in 2019.

The ADB forecasts gross domestic product (GDP) growth in Asia and the Pacific to reach 6 percent in 2018 and 5.9 percent in 2019, a slight deceleration from the 6.1 percent registered in 2017.

"Despite the short-term costs, the benefits of reform-such as the recently implemented GST-will propel India's future growth", said Yasuyuki Sawada, ADB's Chief Economist.

The report also noted there are external risks to the Philippines' growth outlook from heightened volatility in worldwide Financial markets and uncertainty about global trade openness, although the country's strong external payments position would cushion these effects.

Bengals official 2018 NFL draft hats for rookies are here
He needs to add the best lineman available to bolster the offensive line and help get the Broncos into the playoffs. In the exchange, the Bucs will get their pass-rusher and a fourth-round pick (No. 102 overall ) from the Giants.

Shinsuke Nakamura launches vicious assault on AJ Styles, Daniel Bryan
A highly-competitive bout, both Superstars gave it their all as the crowd gave dueling chants in favor of both Bryan and Styles. After AJ retained his WWE Championship, Nakamura took out his frustrations on the Phenomenal One with a deceitful low blow.

Trump says 'major' Syria decision coming in '24-48 hours'
Local aid groups blamed the attack on the Syrian government. "Another humanitarian disaster for no reason whatsoever". UK Prime Minister Theresa May spoke to President Trump and President Macron of France in separate calls on Tuesday.

Vietnam's annual trade now exceeds 185 percent of GDP, making it the second most trade dependent economy in Southeast Asia, behind Singapore. The subregion is expected to maintain its 2017 growth rate of 5.2 per cent in both 2018 and 2019.

The report provides suggestions on ways to enhance government capacity, including strengthening coordination between government agencies and improving technical capacity of staff within these agencies, and fostering stronger partnerships between government agencies, the private sector, and development partners.

Strong external and domestic demand helped economies in the region expand by an average 6.1% past year.

According to ADB, Inflation is projected to decelerate to 7.0% in 2018, as exchange rate stability improves, and rise to 8.0% in 2019: "Recession ended in 2017 as higher oil prices and gains in services and agriculture offset a decline in industry and returned the current account balance to surplus". Inflation projections for the next two years, however, are well below the 10-year regional average of 3.7 per cent.

While protectionist trade measures by the United States so far this year have yet to dent trade flows to and from Asia, the risks are there, the Manila-based institution said. "Investment will be supported by large public infrastructure projects such as national and provincial roads, railways, airports, and the Philippines' first mass transit subway", the ADB said in its report.

Related News:

  • Shotgun switching and guided missiles get nerfed in Fortnite patch

    Shotgun switching and guided missiles get nerfed in Fortnite patch

    Players can also adjust the exposure, aperture, focal length, and focus distance of the camera in settings. Drone style camera that is free to fly around the island.

    Pennsylvania School District Arms 500 Teachers With Mini Baseball Bats

    Representatives from the Education Department attended the workshop, which ended on high note last Friday. Every week during the school year WITN will recognize a Teacher of the Week on WITN News at Sunrise.
    US Wants UN Vote Tuesday on Syria Gas Attack Inquiry

    US Wants UN Vote Tuesday on Syria Gas Attack Inquiry

    But during the weekend, images of dead and sick women and children again circulated following another alleged chemical attack . Trump said his administration will likely say "after the fact" how it chose to respond to the suspected chemical attack .
  • European Union  member states ink blockchain partnership

    European Union member states ink blockchain partnership

    The notable remarks come within weeks of European Union launching its own "Blockchain Observatory and Forum" earlier in February. A large number of Member States agreed to work together on the opportunities and challenges brought by AI.
    Facebook says you'll soon be able to 'unsend' texts after Zuckerberg caught

    Facebook says you'll soon be able to 'unsend' texts after Zuckerberg caught

    Cambridge Analytica accessed Facebook data from a professor who got permissions from 270,000 people taking a personality quiz app. Facebook also shared the number of users likely affected from several countries including India.
    Apple iOS 11.3 disables iPhones 8 with third-party displays

    Apple iOS 11.3 disables iPhones 8 with third-party displays

    RED iPhone will be available to order online in select countries and regions tomorrow and in stores beginning Friday, April 13. Unlike last year's iPhone 7 models which had white front, the red coloured iPhone 8 models will have black front panels.
  • FDNY Investigators Probe Deadly Fire At Trump Tower

    FDNY Investigators Probe Deadly Fire At Trump Tower

    The Trump Tower fire news comes three months after a minor fire softened out up a cooling tower on the top of the building. The small electrical fire originated in the building's heating, ventilation, ventilation and air conditioning system.
    Urgent appeal after man and woman shot in Liverpool

    Urgent appeal after man and woman shot in Liverpool

    The teen's smile in the black and white photograph belies her bitterness at the idea of marriage and the deep-rooted dowry system. Phipps officially adopted Vaughn Preston Phipps in August 2017, and Snipes moved to North Carolina to be a part of the family.
    All-new Ford Focus unveiled

    All-new Ford Focus unveiled

    It also gives the auto a sleeker, fresher look thanks to a more raked roofline as well as more chiseled body lines. Ford on Tuesday took the covers off a redesigned Focus in hatchback, sedan and wagon body styles.
  • Trump says missiles 'will be coming' to Syria

    Trump says missiles 'will be coming' to Syria

    Russian Federation previously said there was no evidence of a chemical attack in Douma, let alone Syrian government involvement. Russia vetoed a USA text, while two Russian-drafted resolutions failed to get the minimum nine votes required for approval.
    Before senate hearing, Zuckerberg posts a Facebook message

    Before senate hearing, Zuckerberg posts a Facebook message

    The company shared a preview of what the messages look like, but said the language may be tweaked during the roll out. The FTC has confirmed it is investigating Facebook over possible privacy violations .
    Con Mazzarri e Ljajic il Torino ferma l'Inter

    Con Mazzarri e Ljajic il Torino ferma l'Inter

    Il tecnico ritrova i nerazzurri per la prima volta, sull'onda di un Torino che pare essersi scrollato di dosso molte paure. Il Milan a sua volta spera di potere ancora rimontare sui cugini.


Most liked

Cameroon athletes go missing from Commonwealth Games
Grevemberg warned, however, that they would take the matter "very seriously" if they were found to have broken the regulations. It is not the first time athletes have disappeared during major sporting events.

Champions League: Man City boss Pep Guardiola and Liverpool charged by Uefa
Liverpool FC are on course to finish in the Premier League's top four for the second successive season. With a striker in such red-hot form Liverpool won't fear anyone in the Champions League semi-finals.

Gold spikes after Trump warns Russian Federation to 'Get ready'
Syria's Foreign Ministry said Wednesday that his threats are "reckless" and endanger worldwide peace and security. In April 2017, in response to another chemical attack in Syria, he ordered a strike on an airbase there.

Philadelphia Flyers: 3 factors to consider for playoff series against Penguins
Minnesota Wild - Many people would rather see this match-up deciding the Western Conference , rather than in the first round. Andrei Vasilevskiy will clearly out play Keith Kinkaid between the pipes. "They don't have a lot of set plays".

Sensex extends gains for third day, up 162 points on global cues
The benchmark Sensex closed up 0.48 percent at 33,788.54, while the broader Nifty ended 0.46 percent higher at 10,379.35. Among other Asian markets, Japan's Nikkei was up 0.06 per cent while Hong Kong's Hang Seng index rose 0.97 per cent.

Trump Threatens Russia Over Syria: Missiles 'Will Be Coming'
The Britain-based war monitor, which relies on sources across Syria, said units were preparing themselves for rapid deployment. Haley said Russian Federation was to blame for the council's failure to take action on Syria, now in its eighth year of war.

Manziel tosses TD pass in Spring League game
The Canadian Football League's Hamilton Tiger-Cats now own the rights to the former first-round draft pick. Eric Tillman, the Tiger-Cats' general manager, was among the National Football League scouts who attended.

God of War UI, difficulty options detailed by Sony Santa Monica
As with many Action RPG's, the progression system lets you choose what style of weapon and gear your character can have in-game. Just today, Sony officially revealed the game's difficulty modes available and as well as an option called "Immersion Mode".

Kevin Durant to opt out, redo deal with Warriors
A nine-time All-Star, Durant is a four-time league scoring champ and won the regular-season MVP award in 2013-14. A two-year deal with a $30-million salary for 2018-19 and a player option worth $31.5 million for 2019-20.

"The Simpsons" Blows Off Criticism of Apu
Doesn't it sound like the show is targetting South Asians? "It's amusing because it's racist", Kondabolu responds in the film. Apu's character has faced a lot of criticism in the recent past for pushing negative stereotypes for South-east Asian people.

'The Simpsons' Receives Backlash Over Controversial Apu Stereotype Response
The makers of The Simpsons have hit back at criticism of their portrayal of the show's Indian shop owner, Apu . Kondabolu went on to make a poignant documentary about the phenomenon called The Problem with Apu .

Spartan soccer snaps four-game skid with 4-2 victory
Along the offensive line, Tre Coney moved from tackle to center, while Sterling Sykes and Chase Harof take on starting roles. The Bobcats (4-3) tacked on two more in the seventh to make it 6-1. "I think there are good things we can take away".

Government violent crime strategy totally ignores impact of police cuts
Shadow education secretary Angela Rayner said: 'We have seen knife crime increase in 39 of the 43 police forces across the UK. Shadow home secretary Diane Abbott claimed the Government "has only just woken up to the problem of rising violent crime".

Haley Blasts Russia for Blocking US-Backed Resolution on Syria Chemical Attack
The rouble was down 1% to 64.345 per dollar at 10:54 in Moscow , trimming an earlier loss of as much as 2.7%. Britain accused Russian Federation of carrying out the attack but the Kremlin has denied any involvement.

Grows Position in Boeing (BA)
Dumont And Blake Ltd Liability Company reported 5,545 shs or 0.66% of all its holdings. 6,600 are owned by Btr Cap Management. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1.71 average brokerage recommendation.