FACT CHECK: PH’s projected 6% GDP growth for 2023 not ranked first in Asia FactsFirstPH
The Philippines’ projected Gross Domestic Product growth rate of 6% for 2023 is ranked first in Asia, according to the April 2023 World Economic OutlookThe claim can be found in an April 20 post on President Ferdinand Marcos Jr.’s official Facebook page “Bongbong Marcos.”Nangunguna ang ekonomiya ng Pilipinas sa buong Asya sa 6% nitong projected GDP growth ayon sa World Economic Outlook na inilabas ng International Monetary Fund nitong Abril.
The Facebook post matches the data in Annex Table 1.1.2 of the report, which lists only seven countries – China, India, Indonesia, Thailand, Vietnam, Philippines, and Malaysia – under the category “Emerging and Developing Asia.” NOT FIRST IN ALL ASIA: The Philippines’ GDP growth rate leads in the Emerging and Developing Asia, not whole of Asia. Table from the World Economic Outlook released by the International Monetary Fund on April 2023.
However, Table A4 of the report shows a longer list of countries under “Emerging and Developing Asia.” Based on this list, three countries have GDP growth rate projections exceeding the Philippines’ 6% rate for 2023: Fiji , Maldives , and Palau . FULL LIST: The countries of Fiji, Maldives, and Palau are ahead of the Philippines in terms of their GDP growth rate projection for 2023. Table from the World Economic Outlook released by the International Monetary Fund on April 2023.
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