MANILA  -The Asian Development Bank (ADB) revised downward its gross domestic product (GDP) growth forecast for the Philippines to 5.7 percent in 2023 from the 6 percent forecast last April. The multilateral lender said in a statement, which accompanied an update of its Asian Development Outlook (ADO) 2023 report issued Sept. 20, that the downscaled forecast was due to high inflation as well as the potential effects of adverse developments across the world. Still, ADB maintained its forecast of a 6.

https://business.inquirer.net/422130/adb-slashes-2023-economic-growth-forecast-for-ph-to-5-7

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