Phnom Penh, Cambodia
November 10, 2022
President Ferdinand R. Marcos Jr. discussed recent developments on the Philippine economy as he met with Cambodian chief executive officers (CEOs) in a roundtable meeting in Phnom Penh, Cambodia.
The President cited that for the third quarter of 2022, unemployment rate in the country has dropped to 5%. “It looks like the route that we have taken is taking the economy in the right direction,” he pointed out.
In a report by the Office of the Press Secretary (OPS), the government is ramping up efforts to boost domestic demand amid the higher global inflation and a slowdown in the world economy. These significant steps aim to increase and improve the competitiveness of domestic production in order to sustain and further accelerate the country’s economic recovery.
The OPS further stated that latest data from the National Economic and Development Authority (NEDA) show that the Philippine economy grew by 7.6% in the third quarter of 2022.
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