Economy, digitisation and climate change on the agenda at the ASEAN summit

President Bong Bong Marcos has started talks during his four-day visit to Phnom Penh, Cambodia for the Association of Southeast Asian nation (ASEAN) summit.

President BongBong Marcos has told ASEAN leaders that the Philippine economy is headed to the right direction with unemployment rate down to 5% and GDP has increased 7.6% in the third quarter of 2022 Credit: Office of the Press Secretary, Office of the President-Philippines

Key Points

• President Marcos is expected to include issues on economic recovery post COVID, digitisation and climate change at territorial dispute involving the West Philippine Sea.
• Unemployment rate was down 5% during the third quarter of the year.
• Based on the analysis by the National Economic and Development Authority (NEDA), the Philippine economy grew by 7.6% during the third quarter.

Economists continue to monitor country's inflation rate as it continues to increase.

One expert has warned that the inflation rate and increased prices of basic goods and services will remain in the coming year.