BSP Governor: Philippines on strong path to recovery and upper middle-income status

Speaking at his first international media briefing of the year, Philippines central bank chief Benjamin E. Diokno shared the country’s latest economic indicators and the sectors he expects will drive FDI in 2022.

The Philippines is on a strong path to economic recovery and is set to join the ranks of upper middle-income nations, Bangko Sentral ng Pilipinas BSP governor Benjamin E. Diokno believes.

Speaking to a group of international reporters earlier this month, the governor backed his views with the country’s key economic indicators

  •  The country’s GDP grew by 7.7% in the fourth quarter of 2021, bringing full year growth to 5.6%, exceeding the government’s target of 5.5%.
  • Foreign direct investment FDI returned to pre-pandemic levels, totalling $8.1 billion between January and October 2021 a 48.1% increase compared...
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