Philippines has 'potential' to

become Asia's fastest-growing

economy: ADB
Cathy Yang, ABS-CBN News
Posted at May 02 2019 09:25 AM

Construction workers are shown in one of the many building sites in the Philippine capital. The
Philippines has the "potential" to become the fastest-growing economy in Asia, propelled by an
unprecedented infrastructure overhaul, the Asian Development Bank said. Mark Demayo, ABS-
CBN News
NADI, Fiji -- The Philippines has the "potential" to become the fastest-growing economy in Asia,
propelled by an unprecedented infrastructure overhaul, tax reform and a young workforce, the Asian
Development Bank said Thursday.

A recent credit rating upgrade from S&P Global is also an indication of the "fundamental strength" of
the Philippine economy, which has maintained growth at above 6 percent, said ADB Chief
Economist Yasuyuki Sawada.

The Philippines' GDP growth has been among Asia's fastest, racing China and Vietnam. Official first
quarter GDP numbers are due out on May 9, the same day as the Bangko Sentral ng Pilipinas' policy-
setting meeting.