Philippine economy posts 5.6 per cent growth in 2021

worker prepares dinner service in a food truck in Eastwood shopping mall in Quezon City, Metro Manila, the Philippines, on Wednesday, Jan. 26, 2022. The Philippine economy expanded more than expected in the fourth quarter, lending a firmer base to a recovery facing threats from fast-spreading coronavirus variants and tighter global financial conditions. - Bloomberg

MANILA, Jan 30 (dpa): The Philippine economy's growth for 2021 beat expectations as activity picked up in the last quarter, the government has announced.

Gross domestic product (GDP) growth was 5.6 per cent for the full year of 2021, exceeding the government’s target of between 5 per cent and 5.5 per cent, the Philippine Statistics Authority said.