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PH posts 7.6% growth in 2022 Strong consumer spending fueled expansion, fastest pace in 46 years
By Julito G. Rada, Vince Lopez, Maricel V. Cruz, Macon Ramos-Araneta and Vito Barcelo CONOMIC growth beat expectations last year, expanding to its fastest pace in 46 years on the back of strong consumer spending despite rising inflation, officials said Thursday.
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Gross domestic product (GDP), or the value of goods and services produced by the country, expanded 7.6 percent in 2022, the Philippine Statistics Authority (PSA) said in a briefing, faster than the pandemic-blighted 5.7 percent output in 2021. The reading topped the government’s target growth of 6.5 percent to 7.5 percent. "There was so much pent-up demand… and that significantly improved
economic activities," Socioeconomic Planning Secretary Arsenio Balisacan said in a briefing. "We are confident that we will remain in our high growth trajectory," he added. The full-year economic performance was also the Philippines' best since 1976, according to official data. Growth in the last three months of the year also beat expectations, expanding 7.2 percent against a 6.6 percent median
MOVING GOODS. A worker pulls a trolley loaded with fabric goods for delivery to stores in the Divisoria district of Manila on January 26. The Philippines’ economic growth beat expectations last year, fueled by strong consumer spending despite rising consumer prices, officials said Thursday. Ted Aljibe/AFP
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SWS: 34% of adult Pinoys say life improved last year A RECENT Social Weather Stations (SWS) survey found that at least 34 percent of adult Filipinos believe that their quality of life got better compared to a year ago. According to the national SWS survey conducted from Dec. 10 to 14, 2022 using face-to-face interviews of 1,200 adults, 26 percent of the respondents said their life got worse, while 39 percent said it was the same.
The pollster said the score of the Net Gainers, or those who said their lives improved since last year, is +8 -computed by subtracting the percentage of losers from gainers --and was classified as "high". SWS said the December 2022 Net Gainer score was up from the "fair" levels of net zero in October 2022 and -2 in June 2022 and April 2022, but it is still Next page
VOL. XXXVI • NO. 345• 3 SECTIONS 12 PAGES • P20 FRIDAY, FRIDAY JANUARY 27, 2023 • www.manilastandard.net • mst.daydesk@gmail.com
President tells PCG to defend both coastlines, nationals By Vince Lopez and Macon Ramos-Araneta PRESIDENT Ferdinand Marcos Jr. has reminded the Philippine Coast Guard (PCG) to always be ready and aware while guarding the country’s maritime boundaries, especially in
the West Philippine Sea. During the oath-taking of PCG personnel in Malacañang, Mr. Marcos said that Coast Guard members are frontliners ready to confront whatever threats come through the country’s coastlines. “That is why we must guard ourselves; we must be ready and
aware and industrious in the work that we do to make sure that we do not have any untoward incidents, that we do not have any mistakes, we do not have any misunderstandings that might cause the problem to escalate out of our control,” the President said. “I’m confident that all our officers
know this mission, that all our officers know how to fulfill that mission. And that is why we continue to support you in every way that we can so our citizens feel safe,” he added. Mr. Marcos noted that although the PCG’s primary role is search and rescue, as well as boundary patrol, Next page
US defense chief plans visit to talk with DND head UNITED States Defense Secretary Lloyd Austin has been planning to visit the Philippines, Philippine Ambassador to the United States Jose Manuel Romualdez revealed Thursday. Romualdez said Austin wants to meet his Filipino counterpart, Defense
PALACE RITES. President
Ferdinand R. Marcos Jr. acknowledges the critical role of barangay health workers in the fight against COVID-19 in a meeting with leaders of the Barangay Health and Wellness (BHW) Party-list on Wednesday night, then leads the donning of rank ceremony for Brig. Gen. Ramon Zagala, the current Presidential Security Group (PSG) Commander (inset), with the latter’s family in Malacanang. PCO photos
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Ex-cop arrested after 22 years Slain model had over Dacer-Corbito murders ‘sensitive’ info on Durante
PRECIOUS PICKINGS.
A shopper picks out red onions at the Divisoria Market in Manila on Thursday. The bulbs are selling at P270 per kilo but prices are expected to down with the arrival of imported onions in the market. Danny Pata
A FORMER policeman has been arrested in Bulacan over the killing of public relations executive Bubby Dacer and his driver Emmanuel Corbito in 2000. According to the National Capital Regional Police Office (NCRPO), law enforcers from different units arrested William Reed III, 57, in an operation in Brgy. Poblacion, Pulilan, Bulacan on
Imported onions in, but price still high IMPORTED onions are now being sold in Metro Manila markets for P180 to P210 per kilo, lower than the P240 charged for local onions, the Department of Agriculture (DA) said Thursday.
US Defense Secretary Lloyd Austin
This comes as a relief to consumers, who have seen prices for onions shoot up to more than P700 per kilo in recent weeks owing to a supply shortage. Next page
Monday. Reed, a former Senior Police Officer I, was served with a warrant of arrest issued in 2001 by then-presiding judge Rodolfo Ponferrada of Regional Trial Court Branch 41 in Manila. The ex-cop is charged with double murder without bail. "Further, above-mentioned accused Next page
CA junks plea to lift power rate hike stay By Alena Mae S. Flores THE Court of Appeals on Thursday denied the petition for a temporary restraining order or preliminary injunction filed by San Miguel Energy Corp. (SMEC) that was meant to suspend an order issued by the Energy Regulatory Commission (ERC) last September on
price adjustments with the former’s contract to supply electricity to the Manila Electric Co. (Meralco). In a resolution dated January 13, a copy of which was received on Thursday by the Office of the Solicitor General, the CA’s 16th Division ruled that SMEC failed to prove its right to a restraining order, the ERC said. Next page
BUSINESSWOMAN Yvonette Chua Plaza had “sensitive information” she planned to use against her reported lover, Army Brig. Gen. Jesus Durante III, before she was killed last December in Davao City, a spokesperson for the Police Regional Office-11 (PRO-11) said Thursday. Murder, obstruction of justice, and theft complaints were filed Wednesday against Durante—the chief of the Presidential Security Group under President Rodrigo Duterte—and nine others, PRO-11 spokesperson Police Major Eudisan Gultiano said in a television interview. Only eight of the respondents, most of them soldiers, were identified by name, including Durante, according to Gultiano. Two were John Does identified only as "Junior" and "Master Sergeant.” Next page