The Philippine Chamber of Commerce and Industry said that a seven percent GDP growth in the domestic economy this year is attainable following encouraging oil price situation and China’s positive outlook in 2023.
The PCCI projection is closer to Finance Secretary Ben E. Diokno’s projection of a 6-7 percent growth rate this year. While Barcelon expects sustained growth this year, particularly in the first semester of 2023, he also noted that headwinds will hamper growth prospects. He said that the continued rise in prices of goods is expected to fuel clamor for wage hikes and eventually dampen the domestic economy.
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