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This general view shows the Makati financial district of Manila on January 31, 2011. The Philippine economy expanded by 7.3 percent last year, the highest since democracy was restored to the country more than two decades ago, the government said. Growth domestic product (GDP) growth in the last three months of 2010 also surpassed expectations to reach 7.1 percent, the National Statistical Coordination Board said. AFP PHOTO/NOEL CELIS
The Malaysian bank also forecasts the Philippines’ GDP growth at 7.3% in 2022
MANILA, Philippines – Malaysian commercial bank Maybank sees the Philippines’ Gross Domestic Product (GDP) growth at 7.3% in 2022, the third highest in the Association of Southeast Asian Nations (ASEAN) region after Vietnam and Malaysia’s 8%.
Maybank analysts, in a report “Year Ahead 2023: A Defensive Harbour,” said the Philippines’ projected growth in 2022 would be higher than 2021’s 5.7%, following the recession in 2020 due to the COVID-19 lockdowns.