Economists expect up to 7.6% GDP growth for Philippines in 2022

The Philippine gross domestic product (GDP) growth for the full-year 2022 is expected to have been higher than 2021’s amid slower growth in Q4. Economists also expect the economy to have expanded at a faster pace in 2022. They expect up to 7.6% growth for the whole year of 2022. The country’s economic growth likely moderated in Q4 from the previous quarter, with high inflation dampening consumption spending. Among the main drivers that economists have cited are accommodation, transport, and construction sectors. The Philippine Statistics Authority is set to release GDP growth data for Q4 and full-year 2022 on 26 January. Earlier, both Finance Secretary Benjamin Diokno and National Economic and Development Authority Secretary Arsenio Balisacan said full-year economic growth in 2022 likely surpassed the 6.5-7.5% target.