Mr Lee Posted December 9, 2011 Posted December 9, 2011 Govt bracing for deep downturn, Aquino saysTHE Philippines is preparing for a deep global economic downturn next year following an Asian Development Bank warning it could happen, President Benigno Aquino III said Wednesday.“We are preparing as best we can,” Mr. Aquino said.The ADB has cut its growth forecast for the Philippines’ gross domestic product to 3.7 percent this year from 4.7 percent earlier, and to 4.8 percent in 2012 from its previous estimate of 5.1 percent as a result of the global economic downturn.The bank said Philippine growth could slow further to 4.2 percent if Europe’s debt woes worsened and the United States’ economic problems deepened. Link to comment Share on other sites More sharing options...
Bundy Posted December 9, 2011 Posted December 9, 2011 " Preparing for an economic downturn ".......................????Is the average person living in the Philippines going to notice anything different? 1 Link to comment Share on other sites More sharing options...
Bruce Posted December 9, 2011 Posted December 9, 2011 Well Lee, this raises a very interesting question. If, we were reading the Quran, it is understood that when the reader finds 2 or more passages 'in conflict' with each other, the reader is to disregard the former and follow the latter as accurate.Using this logic, can we, the forum readers now disregard all those past postings that have been posted saying how great the economy is being projected for the Philippines? Hehehehehehehehehe 1 Link to comment Share on other sites More sharing options...
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