MANILA, Jan. 10 -- Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla is optimistic of an above 6 percent growth for the domestic economy this 2023 amidst projected slower global output.

During the Tuesday Club event in Mandaluyong City, Medalla said pent up demand in the tourism sector and car sales, among others, remain high and continue to be served as the economy is reopened further.

"The economy is strong and the pent-up demand will continue driving the economy this year," he said.

The government's growth assumption for this year has been slashed from 6.5 to 8 percent to between 6 to 7 percent primarily due to the expected slower growth in advanced economies.

Economic growth, as measured by gross domestic product (GDP), in...