House Committee on Ways and Means chairman and Albay Rep. Joey Sarte Salceda emphasizes the importance of supporting expansionary government spending to stimulate economic activity in the Philippines.
House Committee on Ways and Means chairman and Albay Rep. Joey Sarte Salceda underscored the need to support expansionary government spending to help spur economic activity this year. The lawmaker issued the statement after the Philippine GDP growth rate stood at 5.6 percent for both the entire year of 2023 and the fourth quarter of the same year. In comparison, economic growth averaged 7.6 percent in 2022, with a fourth-quarter growth rate of 7.1 percent.
“The Q4 and full-year GDP (gross domestic product) figures point to robust private sector long-term investment, with gross fixed capital formation being at a very strong 8.1 percent. This points to the work of the President in encouraging more investments in the country through reforms to make doing business easier and fairer. The export of services grew at a remarkable 13.6 percent,” he sai
Philippines Lawmaker Government Spending Economic Activity GDP Growth Investment Reforms Business Export Of Services
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