Philippines Monthly Economic Developments : August 2022
The Philippine economy expanded by 7.4 percent in the second quarter of 2022, anchored on robust domestic activity. The strong domestic environment stood in contrast with the weak external conditions which led to the modest growth in manufacturing...
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| Format: | Brief |
| Language: | English English |
| Published: |
Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099538208192281213/IDU0eb2656c505ed004f710816d0a47543cf5d2f http://hdl.handle.net/10986/37905 |
| Summary: | The Philippine economy expanded by
7.4 percent in the second quarter of 2022, anchored on
robust domestic activity. The strong domestic environment
stood in contrast with the weak external conditions which
led to the modest growth in manufacturing and exports. In
July, headline inflation further accelerated due to rising
food and energy prices, and second-round effects from high
fuel cost. To address inflation, the authorities have raised
its key policy rates, rolled out fuel subsidy to vulnerable
groups including public utility jeepney drivers and
operators, farmers and fisherfolks, and provided cash
transfers to poor households. |
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