Philippine president optimistic of achieving ADB's projections on economy

Philippine President Benigno Aquino III expressed optimism on Wednesday that the economic growth forecast made by the Asian Development Bank (ADB) for the country for this year and next will be achieved. Aquino in an interview with reporters said that his administration will continue to work harder in order to attain the 7 percent and the 6.1 percent gross domestic product (GDP) growth forecast made by the Manila-based lending agency. "I think it's achievable...I will not state categorically a particular number but we will continue to strive to make the GDP figure that much higher," he said. But the president did not discount other factors "beyond the government's control," which could affect the country's economic growth. He cited the situation in the Middle East and the current U.S. government shutdown. However, he added, "there are also positive factors like the seemingly rebounding of the Japanese economy, amongst others that are positive factors." The Philippine government is maintaining its target of 6-7 percent GDP growth for this year, despite posting 7.6 percent growth during the first semester of this year. For next year, the Aquino administration is eyeing 6.5-7.5 percent GDP growth.