The official Twitter account of President Ferdinand Marcos Jr. makes the false claim that the Philippines is projected to be the fastest-growing economy in Asia in 2023.

CLAIM: The Philippines will be the No. 1 fastest-growing economy in Asia this year according to International Monetary Fund projections.


President Ferdinand “Bongbong” Marcos Jr. erroneously  claimed on Twitter that the Philippines will be the fastest-growing economy in Asia this year, citing projections by the International Monetary Fund (IMF). 

“Nangunguna ang ekonomiya ng Pilipinas sa buong Asya sa 6% nitong projected GDP growth ayon sa World Economic Outlook na inilabas ng International Monetary Fund nitong Abril,” the president tweeted.

Similar false claims about the Philippines being projected as the fastest-growing economy in Asia also circulated on social media, such as the graphic below.




While the graphic includes the addresses of the website and Facebook page of the Department of Budget and Management (DBM), it was not posted on the department’s digital platforms. 

The April 2023 IMF World Economic Outlook does say that the Philippines is projected to have a 6% growth rate this year, but the Philippines is not No. 1 on the list of economies of Asia in terms of projected expansion in gross domestic product.

At least two other Asian economies were projected to have  higher growth rates than the Philippines. Macao is projected to post a 58.9% growth rate while Maldives is projected to grow 7.2% this year. Justin Geronimo



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