MANILA, July 10 (PNA) — The Asian Development Bank on Thursday sees no recession for the Philippines because of the moderate growth in overseas Filipino workers’ (OFWs) remittances and improvement in business confidence.

Neeraj Jain, ADB’s country director for the Philippines, told reporters that the Philippine economy is expected to maintain a positive growth in 2009.

Jain said the continuing remittance growth, recent improvement in business confidence and turnaround key exports are positive signals for a positive growth. Read more. . .

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