GDP ng bansa, lumago pa sa 6.3% sa 2nd Quarter ng 2024; Pilipinas, kabilang sa mga nangunguna sa Southeast Asia sa GDP growth
GDP ng bansa, lumago pa sa 6.3% sa 2nd Quarter ng 2024;
Pilipinas, kabilang sa mga nangunguna sa Southeast Asia sa GDP growth
Pilipinas, kabilang sa mga nangunguna sa Southeast Asia sa GDP growth
Transcript
00:00The Philippine economy continues to fluctuate.
00:03This is due to the gross domestic product of the second quarter of the year
00:07which is higher compared to what was predicted at the same time in 2023.
00:12Aside from that, the Philippines is also among the leaders in GDP growth in Southeast Asia.
00:18Sue Jin Kim has the details.
00:20GDP or Gross Domestic Product of the country grew by 6.3% in the second quarter of the year
00:30from 4.3% in the same quarter in 2023.
00:34The fastest growth was in the construction, transportation, storage and other services industries.
00:41Gross National Income grew by 7.9%.
00:45Today, we are pleased to announce that the Philippine economy has sustained its robust growth trajectory
00:52demonstrating resilience amid various domestic and external challenges.
00:58Our gross domestic product growth has accelerated keeping us on track
01:03to achieve our target growth rate of 6-7% for 2024.
01:08The Philippines is leading among its neighbors including Malaysia with 5.8%,
01:14Indonesia with 5% and China with 4.7%.
01:18This performance keeps our position as one of Asia's best performing major emerging economies.
01:25Budget and Management Secretary Amena Pangandaman
01:29praised the success of the administration in improving the economy.
01:33Following the increase of the employment rate in the country,
01:36Labor Party List Attorney Filimon Javier said,
01:39President Marcos Jr.'s policy is right.
01:42Meanwhile, the year-on-year economic decline of 2.3% has been recorded
01:48due to changes in the times.
01:54The increase in GDP growth is also due to the 11.5% increase in total investments,
02:00mostly in construction.
02:03Sustained double-digit growth, 20.8% from 12.1%.
02:09Private construction, likewise accelerated.
02:12But clearly commercial construction.
02:14Secretary Balisakan emphasized that the effort of the government
02:18to address the problem of poverty is bearing fruit.
02:23This is also due to the reduction of almost 2.5 million Filipinos as the poor.
02:29This accomplishment surpasses the Philippine development,
02:32highlighting the effectiveness of our policy measures
02:35and the resilience of our economic strategies.
02:38Food security is a priority under the administration of President Marcos Jr.
02:43To protect our people from such economic shocks
02:46and sustain the momentum for poverty reduction.
02:50Inflation is expected to stabilize in the coming months.
02:54We expect it to revert to its longer-term downtrend.
02:59As we aim for our target range of 2% to 4%.
03:03House Speaker Martin Romualdez emphasized that the government is committed
03:07to ensuring that all Filipinos feel the impact of the economic downturn.
03:12Sujin Kim for Pambansang TV in Bagong, Philippines.