The Philippines finished strong in 2023 with a full-year gross domestic product (GDP) growth rate of 5.5%, outpacing major economies in Asia, such as China (5.2%), Vietnam (5.0%), Indonesia (5.0%), Malaysia (3.7%), Thailand (1.9%) and Singapore (1.1%).
Cooperation is key to success, especially in nation-building. The Department of Finance works with all sectors of society to strengthen the Philippine economy.
The Marcos Jr. government is laying the foundations of a stronger economy, building on the wins and successes of the previous administration.
Building together means everyone has a role to play and everyone does their part so the whole nation can move towards progress.
This first issue of the National Strategy for Financial Inclusion(NSFI) 2022-2028 Annual Report highlights the progress made to accelerate financial inclusion in the country under the guidance of the interagency Financial Inclusion Steering Committee (FISC).
Established in 2016 through Executive Order No. 208, the FISC provides direction in the implementation of the strategy and serves as a platform for the whole-of-nation pursuit of the NSFI’s vision to achieve “financial inclusion toward inclusive growth and financial resilience.”
The cover shows a well-paved road in front of the facade of the DOF building, with people from the different sectors of the economy-infrastructure, healthcare, agriculture, education and business “in motion”. This symbolizes the critical role of the Department of Finance, as the steward of the government’s financial resource, in the continued recovery efforts and strengthening of the country’s resilience amid the health crisis.
Video Links:
1.) Message from the Secretary
2.) Philippine Economic Briefing 2022 Speech of Secretary Carlos G. Dominguez
In December 2019, a cluster of cases of pneumonia-like disease was reported in Wuhan, Hubei Province in China. On March 11, 2020, the World Health Organization (WHO) officially declared the COVID-19 virus as a pandemic, the highest level of health emergency, killing more than 4,000 people and spreading to 114 countries.