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Manila Bulletin devider Philippines devider National devider Romualdez cites 'teamwork' for lifting PH out of recession amid pandemic

Romualdez cites 'teamwork' for lifting PH out of recession amid pandemic

Published Aug 10, 2021 01:48 pm

House Majority Leader Martin Romualdez on Tuesday, August 10, attribute to the "spirit of teamwork and cooperation" the Philippine economy's growth in the second quarter of this year.

House majority leader and Leyte Representative Martin Romualdez (MANILA BULLETIN File Photo)

“We rejoice with the news that the Philippine economy grew 11.8 percent, year-on-year, in the second quarter. This officially marks the end of a pandemic-induced recession that bogged us down for fifteen months,” the Leyte 1st District representative said in his statement.

“I credit this to the spirit of teamwork and cooperation that Filipinos have shown in our fight against the COVID-19 pandemic. The solidarity among branches of government, as well as the private sector, is unprecedented,” he added.

"Teamwork lifted PH out of recession," his statement further read.

The Philippine Statistics Authorty (PSA) reported that the country's gross domestic product grew by 11.8 percent in April to June. This has been hailed as the Philippines' strongest performance in over three decades and marked the end of five consecutive quarters of negative growth.

In the same period, the country registered a 17-percent contraction in its GDP.

Romualdez also cited the country's COVID-19 vaccination program to further the country's economic recovery.

“We are on the right track in recognizing mass vaccination as the key to economic rebound. Despite limited global supply, our vaccination is picking up steam and is getting the results that we wanted for our economy," he said.

Related Tags

Economic recovery covid-19 pandemic response Martin Romualdez GDP
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