ADB trims Philippine growth forecasts as graft probe hits infra spending

MANILA, Philippines — The Asian Development Bank (ADB) further trimmed its growth outlook on the Philippines, citing weak government spending amid a widening graft scandal that has implicated high-ranking state officials. READ: 40 years of ‘steady but shallow growth’ In its latest Asian Development Outlook, the Manila-based lender cut its 2025 gross domestic product forecast for