President Ferdinand “Bongbong” Marcos Jr. said that the Philippines is moving in the right direction while it continues to recover from recent shocks.
Marcos said this after the Philippine Statistics Authority reported Thursday that the Philippines posted a 7.6 percent full-year growth in 2022, the highest in 46 years since the country recorded an 8.8 percent growth in 1976.
“We are weathering the shocks from the international economic situation, and we are starting to see that the economy is moving in the correct direction,” he added.“We still have the problem of inflation, which means there is still a problem of certain sectors of society and of the economy, [who] have yet to enjoy the benefits of that growth. That’s why inflation is something that we are attending to,” he said.
To achieve this, Marcos stressed his administration’s major thrust to attract foreign investments to sustain such growth rate and development.
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