00:00If you like to buy, you are one of those who have a big contribution to the economy from April to June.
00:09The strong sales in the wholesale and retail trade,
00:13if the total income of products and services in the country increased by 6.3% in the second quarter,
00:20was faster than the first quarter.
00:23The government's infrastructure and information and communication infrastructure also contributed a lot.
00:29This is the fastest growth in the past five quarters,
00:33almost equal to 6.4% in the first quarter of 2023.
00:38The economy of the Philippines is even faster compared to Malaysia, Indonesia, and China,
00:44although slower than Vietnam.
00:47This significant development brings our real GDP growth rate to 6.0% for the first half of the year,
00:56keeping us on track to achieve our target growth rate of 6% to 7%.
01:01The rise in production is a result of the economic downturn.
01:04This means that many workers are needed, which is why the number of unemployed decreased.
01:09But in the first month after the second quarter,
01:12the price of goods and services increased by 4.4%.
01:18Ms. Neneng, for example,
01:20is no longer eating out or buying new goods,
01:23especially when her budget is running out.
01:26It's increasing, but what do you expect if you don't have a fish?
01:32I will buy a fish that costs P300,000, then I will cut it into 10 pieces.
01:37According to NEDA, the government's target is to reduce the poverty rate by 9%
01:43by 2028, but this will require perseverance and continued economic recovery.
01:49We will strive to ensure that we'll go back,
01:53we'll revert to the longer-term decline in the food inflation.
01:59There's no magic to enriching our lives.
02:04We have to be patient in pushing for sustained growth, sustained job generation.
02:11For GMA Integrated News, Bernadette Reyes, Nakatuto, 24 Hours.
02:19For GMA Integrated News, Bernadette Reyes, Nakatuto, 24 Hours.
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