Rapid 2022 growth just a flash in the pan, poverty even increased — IBON
Rapid 2022 growth just a flash in the pan, poverty even increased — IBON
January 27, 2023
Research group IBON said that faster growth in the gross domestic product (GDP) in 2022 won’t be repeated and pointed out that ordinary Filipinos did not feel this amid increasing informality in employment and poverty. The group said that the relatively rapid growth in 2022 is only a rebound after the protracted pandemic lockdowns and there will be a steep slowdown this year.
The Philippine Statistics Authority reported 7.2% growth in the fourth quarter of 2022 which resulted in 7.6% full-year growth in 2022. This is above the government’s target of 6.5-7.5% for the year.
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