The Philippines will be resilient in the projected global recession this year, as inflation that peaked in 2022 is expected to “settle” by June this year, an economist in the House of Representatives predicted on Sunday, Jan. 22. | onenewsph
The Philippines will be resilient in the projected global recession this year, as inflation that peaked in 2022 is expected to “settle” by June this year, an economist in the House of Representatives predicted on Sunday, Jan. 22.
As far as he is concerned, “pent up demand will also ensure that our economy, which is at least 70 percent driven by domestic demand, will have plenty of growth runway” even as no less than international business organizations say that Manila is on the way to economic recovery. The lawmaker stressed that the strategy now must be “how do we sell the Philippines as a safe haven for investments when the world feels fearful of putting money everywhere else?”Meanwhile, the Philippines has joined the “VIP Club,” which is a list of Southeast Asian countries with best-performing economies, President Marcos said last Saturday, Jan. 21, after arriving from his five-day visit to Davos, Switzerland for the World Economic forum .
The President also noted that he discussed partnerships and collaborations with WEF founder and chairman emeritus Klaus Schwab to help the Philippines sustain equitable and inclusive growth and provide a better quality of life for Filipinos. The Philippines’ attendance at the WEF did not only highlight the current economic situation in the country, but also highlighted to global leaders the role that the Philippines can play in this fragmented world, according to the President.
Marcos, however, said the Philippines has to tailor-fit a sovereign wealth fund that will suit its needs.
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