“We may slow down, given still elevated external headwinds & internal challenges, but the economy will remain comparatively strong in 2023,” Economic Planning Secretary Arsenio Balisacan said in a tweet.
The government is aiming for yearly gross domestic product growth of 6.5% to 8.0% between 2023 and 2028. The economy would likely grow above the government’s 6.5%-7.5% growth target for 2022, Mr. Balisacan said on Nov. 10, following a faster-than-expected 7.6% annual expansion in the third quarter, underpinned by pent-up domestic demand.
That followed GDP growth rates of 7.5% in the second and 8.2% in the first quarter, boosted by the full reopening of the economy as the government continuously lifted COVID-19 restrictions, and despite soaring inflation. The world’s largest investment banks expect global economic growth to slow further in 2023 following a year roiled by the Ukraine conflict and soaring inflation, which triggered one of the fastest monetary policy tightening cycles in recent times. —
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TouchPay creator MEPS wins patent infringement case vs BTIThe arbitral tribunal from the Philippine Dispute Resolution Center Inc. recently rendered an arbitral award directing BTI Payments Philippines Inc. to pay Manila Express Payments System at least P5.3 million for patent infringement.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Magnitude 5 quake hits waters off Surigao Del SurMANILA, Philippines — A magnitude 5 earthquake rocked the waters near Surigao Del Sur on Sunday just past noon, according to the Philippine Institute of Volcanology and Seismology
Source: inquirerdotnet - 🏆 3. / 86 Read more »
23,000 Filipinos to get jobs should Pogos be banned — GatchalianMANILA, Philippines — Senator Sherwin Gatchalian on Sunday said the 23,000 Filipinos who will be displaced should the government ban Philippine Offshore Gaming Operators (Pogos) will be given
Source: cebudailynews - 🏆 8. / 71 Read more »
Sailing towards common ground: Recasting the discourse on the West Philippine Sea'If the ecosystem services that create the heritage value of the West Philippine Sea were not protected and secured, interests on any part of it would not make sense.' ThoughtLeaders Opinion
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Ambassador signs donation pact for Philippine studies program of Thammasat University - BusinessMirrorBANGKOK—Ambassador Millicent Cruz Paredes and Dr. Passapong Sripicharn, who is the dean of Thailand’s Thammasat University’s Faculty of Liberal Arts, signed the donation agreement on October 20 for the implementation of the “Philippine Studies” program in the educational institution. The program is focused on activities that enhance people-to-people relations between the Philippines and Thailand—including academic
Source: BusinessMirror - 🏆 19. / 59 Read more »
Ice cream shop Baskin-Robbins to close its Philippine stores on December 31Ice cream specialty shop Baskin-Robbins is ending its operations in the Philippines at the end of the year. 🤔 Sadt. Ice cream cakes😭
Source: gmanews - 🏆 11. / 68 Read more »