• The Philippine economy likely grew more than 7.5% in the fourth quarter of 2022 from a year earlier, Finance Secretary Benjamin Diokno said, delivering one of the fastest expansions in the region.
  • Fourth quarter was robust “because that was the period when we really opened up,” he said Monday. “Plus, Christmas season is very strong in Manila,” Diokno said ahead of the data release on Jan. 26.
  • Diokno’s forecast suggests domestic demand has held up despite inflation hovering at a 14-year high and amid an aggressive monetary tightening by the central bank. The finance secretary also said he expects inflation to gradually cool this quarter.