Now, I can tell you that we have weathered the unprecedented crisis during the past two years because of the country’s strong fundamentals, which were built through decades of continued implementation of structural reforms and sound macroeconomic management. The Philippines is well on its way to full recovery.
After the pandemic-driven recession in 2020, the economy grew by 5.7 percent last year and sustained its robust momentum with an 8.3 percent growth in the first quarter of 2022. Now, our original growth target of 7-9 percent this year appears to be doable.