Marcos sees Philippine economy growing around 7% this year

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Marcos sees Philippine economy growing around 7% this year
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President Ferdinand Marcos Jr expects the domestic economy to grow around 7% this year, saying strong fundamentals, prudent fiscal management and reforms in key sectors will cushion against risks from a potential global recession.

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“Our strong macroeconomic fundamentals, fiscal discipline, structural reforms and liberalisation of key sectors instituted over the years have enabled us to withstand the negative shocks caused by the pandemic and succeeding economic downturns and map a route toward a strong recovery,” Marcos was quoted as saying in a statement his office issued on Wednesday.

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