Publication: Philippines Monthly Economic Developments: August 2022
Date
2022-08
ISSN
Published
2022-08
Author(s)
World Bank
Abstract
The Philippine economy expanded by
7.4 percent in the second quarter of 2022, anchored on
robust domestic activity. The strong domestic environment
stood in contrast with the weak external conditions which
led to the modest growth in manufacturing and exports. In
July, headline inflation further accelerated due to rising
food and energy prices, and second-round effects from high
fuel cost. To address inflation, the authorities have raised
its key policy rates, rolled out fuel subsidy to vulnerable
groups including public utility jeepney drivers and
operators, farmers and fisherfolks, and provided cash
transfers to poor households.
Citation
“World Bank. 2022. Philippines Monthly Economic Developments : August 2022. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/37905?show=full License: CC BY 3.0 IGO.”