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Manila Bulletin devider Philippines devider National devider Upgraded WB forecast shows Pinoys' resilience--Romualdez

Upgraded WB forecast shows Pinoys' resilience--Romualdez

Published Jun 8, 2023 10:38 am
House Speaker Martin Romualdez (Speaker’s office)


The World Bank's (WB) upgraded forecast on the Philippines' economic performance speaks positively about Filipinos' resilience, House Speaker Martin Romualdez said in a statement on Thursday, June 8. “This upgraded forecast reinforces the positive trajectory of the Philippine economy and demonstrates that we are on the right track towards recovery and progress," Romualdez, Leyte's 1st district representative, said. "It is a testament to the resilience of our people, the dynamism of our businesses, and the stability of our economic fundamentals,” noted Romualdez. As per the WB, the Philippines' gross domestic product (GDP) is expected to grow 6.0 percent this year. This is a few notches above its previous forecasts of 5.4 percent in December and 5.6 percent in April. “The comprehensive and inclusive economic agenda of the administration of President Ferdinand ['Bongbong'] R. Marcos, Jr., as well as the collaborative efforts between the Executive and Legislative branches, have proven fruitful in fostering an environment conducive to growth,” said Romualdez, arguably the President's top ally in the entire legislature. The Speaker also commended the collective efforts of the country’s economic managers, lawmakers, and all stakeholders who have contributed to this positive development.

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