Remarks and predictions on Q3 2022 GDP growth figures

By Rep. Joey Sarte Salceda (Albay, 2nd district) Chairman, House Committee on Ways and Means

I expect the economy to have grown between 7.5 to 7.8 percent, defying expectations and reflecting the overall shift in attitude from pandemic mode to endemic mode for COVID-19. This is upon our analysis of (1) data from the country’s traffic situation which is evidence of higher economic activity, (2) higher-than-expected OFW remittances, (3) the continuing boom in the services sector, especially the BPO sector and freelancing; (4) very good employment numbers in September; and (5) good tax performance, indicating that there is a growing tax base.

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