The Philippine economy expanded by 6.4% year-on-year in the first quarter of 2023, higher than the expected 6.2%, according to the Philippine Statistics Authority (PSA).
A man pushes a goods cart through a crowded market in Manila, Philippines on September 21, 2022. (Photo: AFP/VNA)
Hanoi (VNA) – The Philippine economy expanded by6.4% year-on-year in the first quarter of 2023, higher than the expected 6.2%, according to the Philippine Statistics Authority (PSA).
PSA head Dennis Mapa said the rate is the lowest sincePhilippines began to recover from the pandemic in the second quarter of 2021. Themajor economic sectors of agriculture-forestry-fishing, industry, and services recordedpositive expansions of 2.2%, 3.9%, and 8.4%, respectively.
National Economic and Development Authority Secretary Arsenio Balisacan saidthe Q1 growth figure was lower than the 8% and 7.1% respectively postedin the first and fourth quarters of 2022.
The official said caution should be exercised ininterpreting this as a slowdown since the previous year's growth came from alow base.
The better-than-expected first-quarter performance this yearimplies that the country is returning to its high-growth trajectory despitevarious challenges and headwinds, he added.
The Southeast Asian country has set its GDP growth target for 2023at 6 to 7%.
The nation grew by 7.6% in 2022 and 5.7% in 2021 after itseconomy contracted 9.6% in 2020 due to the COVID-19 pandemic./.
Driven by pent-up demand from consumers, the Philippine economy is forecast to grow 7.2% in 2022 before tapering off to an average of 5.7% in 2023, according to a report released by the World Bank on December 6.
The Philippines' headline inflation rose to 8.7% in January 2023, higher than 8.1% in December 2022 and the highest since November 2008, according to the Philippine Statistics Authority (PSA).
The Philippines spent more than 450 million USD importing some 900,000 tonnes of Vietnamese rice in the first quarter of this year, and more orders are expected to be placed in the time ahead.
Philippine President Ferdinand Romualdez Marcos has called on developed countries to fulfil their long-standing commitments on climate change and vowed that his country will take bold steps to transition to renewable and alternative energy technologies securely and sustainably.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
A man pushes a goods cart through a crowded market in Manila, Philippines on September 21, 2022. (Photo: AFP/VNA) 
