DOF underscores PH Economic Performance with 5.9% growth in Q3 of 2023

The Department of Finance (DOF) Secretary Benjamin E. Diokno underscored the sustained recovery and progress of the Philippine economy at the Pilipinas Conference 2023, hosted by the Stratbase ADR Institute, with the theme, “The Path Towards Economic Security: Turning Global Risks into Opportunities.”

During his speech, Finance Secretary Diokno cited the strong PH economic performance of 5.9 percent growth in the third quarter of 2023. The country’s Gross Domestic Product (GDP) expansion reached 5.5 percent for the first to third quarters of 2023, surpassing the growth rates of China, Indonesia, Vietnam, Malaysia, and Singapore. Higher revenue collections underpinned this robust growth, declined inflation, and continuous improvements in the job market. 

Economic security is a crucial aspect of national security beyond defense capabilities. Likewise, the nation can be secure when its people are economically stable. It is hoped to be achieved under the PBBM administration.

The 2023 Pilipinas Conference aims to strengthen multi-sectoral collaboration and discuss strategic solutions to society’s most pressing issues. It was attended by key leaders from the government and the private sector, as well as members of the diplomatic community, on 22 November 2023 at The Peninsula Manila. 

For more information, click this link to read the DOF official report. AOB

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