'Best is yet to come' for PH economy, says Salceda

An economist-congressman believes that “the best is yet to come” in terms of the economy after the Philippines exceeded expectations with its full year gross domestic product growth rate.“The 2022 full year GDP growth rate of 7.6 percent, which exceeds the DBCC targets, is a triumph for the administration’s policy of allowing the recovery momentum to proceed in full swing,” Albay 2nd district Rep. Joey Salceda said in a statement Thursday, Jan. 26.Referring to the 7.

“What excites me for 2023 and for the medium-term is the growth in gross capital formation. Businesses, in other words, are investing – and their expenditures for those investments reflected well on the figures,” the Committee on Ways and Means chairman further said. “That bodes very well for 2023 and beyond. That means the business sector is optimistic about the need for more production in the coming years. Don’t bet against the Philippines in 2023.”“Last year saw negative growth in breeding stocks and orchard development. That figure is now a very slight positive, at 0.3 percent,” he said.

Source: Financial Digest (financialdigest.net)

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