By Arabella Asis
President Ferdinand Marcos Jr. announced on Thursday, April 20, that the Philippines ranked first in Asia in the 2023 gross domestic product (GDP) forecast released by the International Monetary Fund (IMF).
“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 President said in a social media post.
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.
— Bongbong Marcos (@bongbongmarcos) April 21, 2023
Lalo pa nating pagtutuunan ng pansin ang ating mga hakbanging nakatuon sa pagpapaunlad ng ating ekonomiya para sa isang Bagong Pilipinas! pic.twitter.com/1SCuvYiDAw
— Bongbong Marcos (@bongbongmarcos) April 21, 2023
In the latest World Economic Outlook report, the IMF raised the country’s 2023 GDP growth projection to 6% from January’s 5% forecast.
According to the report, the Philippines has overtaken other Asian countries in terms of GDP growth.
India and Vietnam came close with the Philippines with 5.9% and 5.8% projections, respectively.
Meanwhile, China’s GDP is forecast to grow by 5.2%, Indonesia at 5%, Malaysia at 4.5%, and Thailand at 3.4%.
With the outstanding report, Marcos vowed that the government will work harder to boost the country’s economy.
National Economic Development Authority (NEDA) Secretary Arsenio Balisacan also remains hopeful that the country will reach its target GDP for 2023.
“We are aiming for 6 to 7. I think we are not leaving that track,” Balisacan told the reporters. – cf
