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The Philippine Gross Domestic Product (GDP) posted an 8.3% growth in the first quarter of 2022

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#InTheKnow: The Philippine economy posted an 8.3% growth in the first quarter of 2022, driven by private consumption. The Philippine Statistics Authority (PSA) said that the first quarter GDP already exceeded pre-pandemic levels on a quarterly basis, beating analysts’ expectations based on polls by Bloomberg and meeting the government’s target of 7% to 9%.
 
The Gross Domestic Product or GDP, which is the total value of all finished goods and services in a country, is used by experts and policymakers to assess the economy’s health.
 
Sources: Philippine Statistics Authority, Rappler