
By: Elena Grace Flores
YouTube Video: UNTV News and Rescue
[VIDEO]: PBBM says PH economy moving in the right direction after posting 7.6% GDP growth
The detractors’ Claim is Baseless
The GDP report proves that President Bongbong Marcos’s detractors’ claim that he’s responsible for the surging prices of onions and eggs is baseless. The Philippine economy expanded by 7.6 percent in 2022 after logging 7.2 percent in the fourth quarter. It makes the country the fastest among the emerging economies in the ASEAN region, the Philippine Statistics Authority (PSA) said recently.
GDP Success
PSA head Dennis Mapa said that the 2022 gross domestic product (GDP) growth is the highest since 1976. His claim is indeed reliable. This is because of the wholesale and retail trade, repair of motor vehicles and motorcycles, manufacturing, and construction. National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the 7.6-percent growth is the fastest among the countries in ASEAN that have released the Q4 data.
Lowering the Inflation Rate
The president however admits that inflation remains a problem. But he’s confident that the rate will lower starting from the fourth quarter of 2023.