GDP Growth Rate ng Pilipinas, bumaba sa 4.3%; pagmahal ng mga bilihin, isa sa dahilan | 24 Oras - video Dailymotion

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00:00 As for the love of groceries,

00:03 it was the reason for the slowdown of the economy in the second quarter of the year.

00:09 Bernadette Reyes pointed it out.

00:11 As for those who don't spend money because of the high prices of groceries,

00:19 or because they don't want to borrow money and want to save money because of the high interest rates,

00:24 because there are only a few people who buy products,

00:27 businesses are weak.

00:30 These are just a few of the reasons for the slowdown of the economy in the second quarter.

00:34 Our GDP fell by 4.3%,

00:37 or the total income of the products and services of the country.

00:41 It still grew, but it was slower.

00:43 If you like to shop,

00:46 well, you have a big responsibility because wholesale and retail trade are one of the biggest responsibilities in the economy.

00:53 The moderate economic expansion was driven by increases in tourism-related spending and commercial investments.

01:00 And even if the slowdown of the economy,

01:03 there are still more people who have jobs.

01:05 So what if it's faster?

01:07 Neda said that the prices of groceries are still high,

01:11 but the speed of the rise is slowing.

01:14 With the help of the Philippine Inter-Agency Committee on Inflation and Market Outlook,

01:18 prices of groceries are expected to fall.

01:21 Through solutions such as the supply of products.

01:27 Despite the slowdown of the economy in the second quarter,

01:31 meat, fruits and sugar.

01:33 But this August, according to the Agriculture Department,

01:36 rice prices are rising due to the rains and storms,

01:39 and rice exports are banned in India.

01:42 We still have 8 to 11 typhoons before the end of the year.

01:48 Hopefully, those ones will not be as serious as the one we just had.

01:54 The country's debt should also be balanced compared to GDP or income from the Philippine products and services or debt to GDP.

02:02 Although we worry about our debt to GDP ratio, it's about 63 percent.

02:06 And that's a little high for us.

02:08 And it is not ideal.

02:11 We can pull ourselves out of that debt ratio and improve that debt ratio through growth.

02:19 The 2023 target is 6 to 7 percent growth rate.

02:23 To achieve that, the economy needs to grow 6.6 percent in the remaining months of the year.

02:29 But it seems like a big loss for some economists.

02:33 We are consumption-driven.

02:34 We buy, we don't produce much.

02:37 We need to have our own domestic production, domestic agriculture.

02:43 It's hard for our growth to increase because of high interest rates.

02:48 And that's to combat inflation.

02:50 We can reduce their impacts, especially for those that we can control.

02:57 For example, inflation that's caused by supply bottlenecks or what we call supply-side factors.

03:06 For GMA Integrated News, Bernadette Reyes, Nakatuto 24 Horas.

03:13 [Native language]

03:16 Subscribe to GMA Integrated News on YouTube.

03:20 For Kapuso Abroad, visit GMA Pinoy TV at www.gmanews.tv.

03:28 [BLANK_AUDIO]

GDP Growth Rate ng Pilipinas, bumaba sa 4.3%; pagmahal ng mga bilihin, isa sa dahilan | 24 Oras

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