“Good economy” will be passed on to President Duterte’s successor, according to Malacañang.
MALACAÑANG — Following reports of the country’s growing foreign direct investment (FDI) and gross domestic product (GDP), the Palace is confident that President Rodrigo Duterte will be turning over a good economy to his successor.
Communications Secretary and acting Presidential Spokesperson Martin Andanar, in his press briefing on May 12, said that the GDP growth was yet again another Duterte legacy.
He also said that the growing GDP reflects the effectiveness of the government’s response to the coronavirus pandemic.
“This is a testament to how effective the approach of the administration is in ensuring our people’s safety from Covid-19 while giving the public the opportunities to alleviate hunger and joblessness,” Andanar said.
Andanar made the statement after the Philippine Statistics Authority (PSA) reported that the Philippines’ GDP posted an 8.3% growth in the 1st quarter of 2022.
Aside from this, he welcomed the Bangko Sentral ng Pilipinas (BSP) report that the FDI net inflows jumped by 46.3% year-on-year in February to reach USD 893 million in February 2022 from USD 611 million recorded in February 2021.
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Likewise, Andanar shared another good news citing preliminary data from the Philippine Statistics Authority, which showed that manufacturing grew at its fastest pace in 7 months last March 2022.
“Manufacturing surged more than four times or 336.3 percent year-on-year in March. Isang magandang ekonomiya,” Andanar said.
Meanwhile, the camp of outgoing Vice President Leni Robredo is ready to turn over the Office of the Vice President to her successor to ensure a “transition (that is) as smooth and as early as possible”.
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