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PH NOW HAS A DYNAMIC DOMESTIC ECONOMY AS GDP POSTED A 6.4% GROWTH IN Q1 2023 - PANGANDAMAN

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Dateline Kamuning: Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman highlighted the Philippines’ current dynamic domestic economy and positive outlook, as the Philippine Statistics Authority (PSA) reported that the country's gross domestic product (GDP) grew by 6.4 percent in the first quarter of 2023. "The country now has a dynamic domestic economy. This means that even if the regional and global economic environment would worsen, ours has its own momentum and own dynamism to sustain growth," Secretary Pangandaman said. “This quarter’s GDP performance indicates that the Philippines is returning to its high growth trajectory,” Pangandaman added. The reported GDP growth performance figure is well within the government’s target of 6.0 to 7.0 percent for 2023. Further, based on latest available data from countries that have released their first quarter 2023 real GDP growth, the Philippines grew the fastest among major emerging economies in th...