Tacloban-based business group welcomes GDP growth rate

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TACLOBAN CITY — A business group in this city has welcomed reports about the country’s 7.2 percent growth in its gross domestic product (GDP) for the fourth quarter of last year.

Eugene Tan, president of the Philippine Chamber of Commerce and Industry-Tacloban-Leyte Inc., said the growth means the country’s economy has improved amid the COVID-19 pandemic.

However, the business leader said the growth would become more meaningful if the poorest of the poor could reap its benefits.

“Sometimes, the growth of our economy is not felt in the country, that is why we are saying that the growth should be inclusive so it will be felt by every Filipino,” Tan said.

For one, he said the poor are still reeling from the impacts of the high cost of prime commodities.

With the high costs, Tan said the purchasing power of ordinary wage earners had diminished tremendously that they could barely buy their basic needs like food.

Tan said businessmen are trying to help poor consumers by not raising the costs of their products.

“As much as possible, if there is a price increase, we don’t implement it immediately because we know that it will cause some hardships to our consumers,” he said.

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