The National Economic and Development Authority (NEDA) has a positive outlook on the shape of the Philippine economy as fiscal year 2023 comes to an end.
NEDA is expecting to hit six percent economic growth in 2023.
“So, for the year, ang expectation namin is we will hit the low end of the target, if not close to it. So, iyong low end of the growth target is a six percent, so either a six or iyon nga—very close to that six percent,” the Presidential Communications Office said, quoting NEDA Undersecretary Rosemarie Edillon, during a recent Saturday News Forum in Quezon City.
“Kasi nakita namin maganda rin naman iyong employment number natin, iyon PMI, Purchasing Managers Index nakita namin na mataas pa rin naman siya. Ano po ito, kasi parang proxy indicator din namin ito sa galawan ng mga business. So, yeah, so we're actually hopeful about 2023," the agency added.
Several sectors that had suffered a severe downturn during the Covid-19 pandemic, primarily the tourism and Information Technology-Business Processing Outsource (IT-BPO) sectors, are now back in business after the restrictions caused by the pandemic were lifted earlier this year.
“So ang gusto na lang namin nito is i-improve iyong quality, quality noong jobs na makukuha nila. So, for the new graduates, again, kung ang tingin ninyo is parang nandoon ka sa course, ang pinag-aralan mo eh hindi ganoon ka-in-demand – lagi naman pong naglalabas ang DOLE ng ito iyong in-demand jobs ngayon," Edillon said.
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