PH on track to pre-pandemic GDP levels by Q1

The Philippines is expected to recover to pre-pandemic economic levels as early as the first quarter of 2022, according to NEDA Secretary Karl Kendrick Chua.

Despite global tensions between Russia and Ukraine, domestic demand and economic reopening are boosting the economy by an estimated P9.4 billion per week due to the shift to Alert Level 1 in many areas.

NEDA remains confident about reaching growth targets for this year despite rising fuel and basic commodity prices.