In the Philippines, the National Economic and Development Authority has announced that the economy grew by 6.4% in the first three months of this year. This extends the uninterrupted period of growth of our economy that began in the second quarter of 2021.
The growth is impressive for the country’s business giants. The Ayala, SM, San Miguel, Megaworld, and Metrobank have earned net incomes that grew by 30-38% for the first quarter of 2023.
In contrast, a Social Weather Stations fresh survey reveals that 51% of Filipino families rated themselves as poor, totaling 14 million families, This is an increase from the 12.9 million families who felt poor in December 2022.
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