Paglago ng ekonomiya ng bansa sa taong 2023, naitala sa 5.6%

Transcript

00:00 The country's economy recorded a 5.6% decline in the fourth quarter of 2023.

00:07 According to the report of the Philippine Statistics Authority,

00:09 this is from the recorded 7.1% decline in the same quarter last year.

00:16 In the entire year of 2023, the gross domestic product or GDP was recorded at 5.6% as well,

00:23 from the recorded 7.6% in 2022.

00:28 According to the PSA, a large part of the GDP growth in the fourth quarter of 2023

00:35 was due to the 7.4% decline in the services sector,

00:39 which was followed by the 1.4% decline in the agriculture sector.

00:44 The National Economic and Development Authority, or NEDA, said that

00:48 the government's goal to further improve the country's economy

00:52 is to improve the quality of work through investment.

00:57 [Music]