Articles worth reading
Senate Majority Leader Joel Villanueva

Senator pushes synergized action to cut unemployment

account_balanceMetro Manila access_time4 days ago

Senate Majority Leader Joel Villanueva wants the private sector and government agencies to put up a unified program that will generate some 1.7 million jobs annually to address the country’s unemployment woes, according to a report by Phil...

Metro News

DBCC affirms 2022 growth forecast

account_balanceMetro News account_circleNoah James chat_bubble_outline0 Comments

Members of the Development Budget Coordination Committee (DBCC), chaired by Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman, shared their positive outlook for the Philippine economy in line with Moody’s growth forecast for the Philippines in 2023, according to a report by Philippine News Agency.

As approved by the DBCC, GDP growth in 2023 is expected to range from 6.0-7.0 percent. This is aligned with Moody’s growth projection of 6.4 percent, which will make the country the fastest-growing economy in the Asia-Pacific region.

According to Moody's forecast, the country will be followed by Vietnam at 6.1 percent, China (5.1 percent), India (5 percent), Indonesia (4.7 percent), Thailand (3.9 percent), and Malaysia (3.8 percent).


Pangandaman believes that the government has put in place public investments under the proposed FY 2023 national budget that will further boost the economy. These expenditure priorities are anchored on the administration’s overarching goal of economic transformation.

“Our budget is still anchored in the 8-point socioeconomic agenda to develop human capital and fund infrastructure projects,” the Budget chief said during the press conference following the 183rd meeting of the DBCC on Monday.

Expenditure priorities set for next year are coupled with reforms that will enhance governance, capacity of local government units and legislative measures that will harmonize the implementation of programs and projects that enable broad-based growth.

In addition, Department of Finace Secretary Benjamin Diokno clarified that the slight adjustment in the target GDP growth for 2023 to 6.0 to 7.0 percent is due to the anticipated global economic slowdown. Despite this, the economic team is confident that the country will reach Moody’s forecast of 6.4 percent by banking on the strength of our local economy which will provide a shield against external headwinds.

With these interventions in place, the economic managers are certain that the projection will be realized and even exceeded with the upward trend in domestic demand and tempered inflation due to stable oil prices. 

date_rangeDate Published
1 month ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Pasay City Mayor Emi Calixto-Rubiano

Pasay to hold grand procession of Sto. Niño 

account_balancePasay chrome_reader_mode2 days ago

Pasay City Mayor Emi Calixto-Rubiano is inviting all residents to join the grand procession of Sto. Niño on Jan. 29, according to a report by Manila Bulletin. Rubiano said the procession will be held at 3:00 p.m., culminating the 10-day ...

Taguig reports 1 Covid-19 case 

account_balanceTaguig chrome_reader_mode5 days ago

The Taguig City government tallied only one new Covid-19 case in the past week as its classification remained at low risk, according to a report by Manila Bulletin. Data from Jan. 16 to 22 showed the city government recorded one new Covid-19 ca...

Parañaque, Pasay to experience water interruption 

account_balancePasay chrome_reader_mode5 days ago

The Maynilad Water Services Inc. announced that seven barangays in Parañaque City and six in Pasay City will experience water service interruption today, Jan. 24, up to Jan. 25, according to a report by Manila Bulletin. In its Facebook p...

Senator proposes online filing of tax returns by OFWs

account_balanceMetro Manila chrome_reader_mode2 days ago

The online filing of tax returns must include overseas Filipinos workers to enable them to fulfill their obligations even while out of the country, according to a report by Philippine News Agency. Senator Win Gatchalian said payment of real est...

Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature