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Philippine economy still 'resilient' following strong growth, says BSP

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Shoppers check toys and gifts for sale at the Divisoria market area in Manila on November 27, 2022. Mark Demayo, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/news/12/01/20221127-divisoria-shopping-md-6.jpg"/><figcaption>Shoppers check toys and gifts for sale at the Divisoria market area in Manila on November 27, 2022.<em> Mark Demayo, ABS-CBN News</em></figcaption></figure></div><p>MANILA - The Bangko Sentral ng Pilipinas on Thursday reassured the public that the country&#x27;s economy remains &quot;resilient&quot; following 3 quarters of expansions for 2022.</p><p>Last. Nov. 10, the Philippine Statistics Authority reported that the third quarter gross domestic product (GDP) growth hit 7.6 percent in the third quarter.</p><p>“The robust expansion recorded for Q3 2022 places the Philippines in a strong position to meet its target GDP growth rate of 6.5 to 7.5 percent this year,” said BSP Governor Felipe M. Medalla.</p><p>“The favorable growth outcome shall also provide the BSP the flexibility to maneuver as it acts to bring inflation back to the target while helping the National Government steer the economy towards a durable recovery,” he added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/10/22/philippine-gdp-grows-76-percent-in-third-quarter">Philippine economy grows 7.6 percent in third quarter, on track for full-year target</a></li></ul><p>The latest GDP growth rate is the 6th consecutive quarter of expansion following the pandemic-induced contractions, the BSP said.</p><p>With strong growth in the first 3 quarters of the year, economic managers have said it is on track to meet the target growth of 6.5 to 7.5 percent for 2022.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/26/22/the-marcos-administrations-8-point-economic-agenda">LIST: The Marcos administration&#x27;s 8-point economic agenda</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2172037" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Bangko Sentral ng Pilipinas on Thursday reassured the public that the country's economy remains 'resilient' following 3 quarters of expansions for 2022.