Noninclusive economic growth

The second quarter of the year will be over in five weeks and we will soon be halfway through 2023.

According to Socioeconomic Planning Secretary Arsenio Balisacan, the first quarter of this year had shown a 6.4-percent growth in the country’s gross domestic product (GDP) or the sum total of the monetary value of final goods and services produced in the Philippines.

Although he described that growth as an auspicious beginning for 2023, he admitted that high inflation remained a challenge and that the actions taken by the Bangko Sentral ng Pilipinas to bring that down may dampen future growth.

Unlike in prepandemic years when the quarterly GDPs were, more or less, within the same…

Keep on reading: Noninclusive economic growth