Malacañang has attributed the 7.6 percent economic growth to President Ferdinand “Bongbong” Marcos Jr. “good economic stewardship.”
President Ferdinand ‘Bongbong’ Marcos Jr.
According to the Philippine Statistics Authority , the Philippine Gross Domestic Product posted a growth of 7.2 percent in the fourth quarter of 2022, resulting in a 7.6 percent full-year growth in 2022. The industries which contributed the most to the annual growth were: wholesale and retail trade; repair of motor vehicles and motorcycles, 8.7 percent; Manufacturing, 5.0 percent; and Construction, 12.7 percent.
The administration’s improved Covid-19 risk management and the easing of mobility restrictions have created a positive economic outlook, boosting economic activity and creating more jobs despite external headwinds.
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