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The economy would likely grow above the government's 6.5%-7.5% growth target for 2022, Economic Planning Secretary Arsenio Balisacan told a media briefing. ... -The Philippine economy grew at a ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
This is a list of regions and highly urbanized cities of the Philippines by GDP and GDP per capita according to the data by the Philippine Statistics Authority. [ 1 ] [ 2 ] Data for 2023 estimates (international US$ using 2023 PPP conversion factor from the International Monetary Fund ).
The economy of the Ilocos Region grew by 7.1% in 2023, reaching ₱701.5 billion from ₱654.8 billion in 2022, making it the third fastest-growing economy among the country's 17 regions. Contributing 0.2 percentage points to the Philippines' 5.5% economic growth, the region accounted for 3.3% of the national Gross Domestic Product (GDP).
The incident was the two countries' latest run-in regarding the Scarborough shoal, a fishing ground within the Philippines' exclusive economic zone that China claims as its territory.
Foreign borrowing was a key element in Philippine development strategy during the Marcos era. The primary rationale was that "borrowed money would speed the growth of the Philippine economy, improving the well-being of present and future generations of Filipinos". [citation needed] Debt-driven growth, 1970–1983
The Philippine Statistics Authority (PSA) said there were 17.54 million people living below the poverty line, a decrease of 2.4 million from the previous survey two years earlier. The government ...
Because of this growth, the Western Visayas economy increased its contribution to the gross domestic product in 2009 to 7.6 percent from the 7.3 percent in 2008. [49] In Central Visayas, the long-term goal is for it to be the leading growth center in the country, that would steer the Philippine economy into greater heights.