ADB sees economy growing 2.5% this year

MANILA, Philippines — The Asian Development Bank said the Philippines would feel the pinch of the global crisis and growth would decelerate this year, but noted that the country would be in a much better position than most of its neighbors to cushion the impact of the turmoil.

In its Asian Development Outlook report, released Tuesday, the ADB said the Philippine economy would grow 2.5 percent this year, compared with 4.6 percent in 2008 and 7.2 percent in 2007.

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