ADB says more quality jobs needed to accelerate Philippine growth

The Asian Development Bank (ADB) said the growth of the Philippine economy could be further hastened if there are more quality jobs in the country. ADB President Takehiko Nakao told the Foreign Correspondents Association of the Philippines that while the country’s remittances have become an importance source of income for the Philippines, creating more quality jobs in the country, instead of sending workers abroad, is very important. Nakao said employment is not enough because what the Philippines needs is quality jobs. Nakao also considered the services sector, which includes the business process outsourcing (BPO), as one of the “many progresses, good things about the Philippines”. The ADB expects the Philippine economy to expand by 6.3% this year, up from its 2015 forecast of 5.9%.

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