MANILA, Philippines - Despite the four straight quarters of at least seven percent growth, the Asian Development Bank (ADB) said the Philippines should not rest on its laurels as more tasks need to be accomplished.
The country’s robust economic growth path was stamped by an investment upgrade by international credit rating agency Moody’s. Earlier, various domestic and international financial institutions upgraded their economic forecasts for the country’s gross domestic product (GDP).
But ADB vice president Stephen P. Groff pointed out that not everything has changed for the better
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