Marcos admin expects Philippines to grow by 6.5% in 2023

The Philippine economy is likely to sustain a 6.5-percent growth rate this year, one of the fastest pace of expansion seen in the region, Finance Secretary Benjamin Diokno said on Monday. | Philbizwatcher /PDI

Liberalizing more economic sectors, improving ease of doing business and allowing modern transformative industries to take root and grow are further seen to sustain the economy.

This is seen to further boost investments on top of the government’s goal to spend at least 5-6 percent of GDP on infrastructure, Diokno noted, stressing all these would form the backbone for the rapid and sustained growth for the Philippines. “The fund, which will be established in keeping with the highest standards of accountability and sound fiscal management, aims to diversify the country’s financial portfolio,” the DOF chief said, adding, he looked forward to discussing the fund during the WEF meetings.

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