PH top in Asia under Marcos

Even with the weaker-than-expected gross domestic product (GDP) growth figures last year and in recent quarters, the Department of Finance (DOF) argued that the Philippine economy grew at an average rate of 5.9 percent—among the fastest-growing Asian economies—since President Ferdinand Marcos Jr. assumed power in 2022.

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On the day of Marcos’ third State of the Nation Address (SONA) on Monday, July 28, the DOF released a review of the administration’s performance on the economic and development front, reporting that since 2022, Philippine GDP grew at a pace faster than most of its peers.

“The Philippine economy has expanded by an average of 5-9 percent since the Marcos Jr. administration took office in 2022, making it one of the fastest-growing economies in Asia,” the DOF said.