By Katherine K. Chan and Sheldeen Joy Talavera, Reporters
THE ASIAN Development Bank (ADB) is looking to cut its growth forecast for the Philippines amid risks from the escalating war in the Middle East and the lingering effects of the flood control graft mess last year.
ADB Lead Economist for Southeast Asia James P. Villafuerte said they will likely revise their initial estimate of 5.3% Philippine gross domestic product (GDP) growth for this year to account for the impact of the Middle East war on inflation, remittances and tourism.
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