Our strong 2021 performance shows that the country is on the correct path to a resilient recovery.
Despite the COVID-19 risks, the Philippines was able to safely reopen the economy and restore employment opportunities with the government’s accelerated vaccination program. In the last quarter of 2021, the government proactively calibrated it’s strategies to improve the balance between COVID and non-COVID needs by shifting to the alert level system with granular lockdowns.
As a result, the Philippine economy grew by 5.7 percent in 2021, exceeding targets and expectations. By the end of the year, the country had also exceeded the pre-pandemic employment level by 3.7 millions, setting the stage for growth in 2022 and beyond.
With this year’s theme, “Beyond the Pandemic: Charting the Path Towards Full Economic Growth and Recovery,” the country now needs to look beyond the pandemic and prepare for the emerging challenges ahead.