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Philippines' GDP growth accelerated to 7.6% in 2022

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But expansion for final quarter of year slowed to 7.2%


The Philippine economy expanded 7.6% last year, surpassing the government's target as domestic consumption remained resilient despite soaring inflation.


Government data released Thursday showed gross domestic product growth was faster than the 5.7% recorded in 2021 and narrowly exceeded the government's projection of 6.5% to 7.5%. The Philippines' performance is among the strongest in the region and comes as President Ferdinand Marcos Jr. bids to attract foreign investors.


Source: Nikkei

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