by Anthony Ian Cruz
Malaya
The Arroyo administration’s much-touted “highest economic growth” is “among the most inequitable” in the region, according to a new report of the Asian Development Bank which also said government corruption continues to hamper development in the country.
In an 83-page study “Philippines: Critical Development Constraints,” the ADB downplayed Malacañang’s declarations of an economic take-off, saying that “while growth has picked up in recent years, with the economy in 2007 posting its highest growth of 7.3 percent in the last three decades, both public and private investment remain sluggish and their share in gross domestic product has continued to decline, raising the question of whether the current economic momentum can be sustained.”