PH economic growth proves balancing health, economy works

Finance Secretary Carlos Dominguez III stated that balancing economic concerns with health measures is crucial for the Philippines' economic recovery.

Dominguez highlighted the country's 11.8% economic growth in the second quarter as evidence of the success of this balancing strategy, noting it was the best quarterly performance in over 30 years.

He countered criticisms that the growth was solely due to base effects, asserting it reflects the economy's strong capacity to rebound and that there is much economic energy waiting to be unleashed.

The government is also focusing on enhancing revenue generation through digitalization, increasing public spending on key sectors, and maintaining fiscal responsibility to ensure a clear path to recovery.

The Philippines' recovery is also getting a boost from the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law.