The National Economic and Development Authority (NEDA) has reported that the Philippine economy had a 7.6 percent full-year growth in 2022. This after data from the Philippine Statistics Authority (PSA) showed a 7.2 percent growth in the fourth quarter of 2022, exceeding the median analyst forecast of 6.8 percent. The 7.6 percent full-year growth also exceeded the Development Budget Coordination Committee’s target of 6.5 to 7.5 percent for the year.
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NEDA Secretary Arsenio M. Balisacan expressed confidence that the economy will remain on its high-growth trajectory following resumption of face-to-face classes, boost in the activities of small and large enterprises alike, and the resurgence of local tourism which caused ripple effects towards the recovery of all the other sectors affected by the pandemic.
You can read the full statement of Secretary Balisacan on the Philippine Economic Performance for the Fourth Quarter of 2022 and Full year of 2022 in this link: https://bit.ly/3Rf1dCY
