Friday, February 8, 2013

Philippine Economic Growth in 2013

President Benigno Aquino III Tuesday said with the continuing strong economic performance, the country may exceed its growth target this year.

"I think all of us will be impressed (with the country's economic performance), which will be released in a few days' time," the President said in an interview with media at the sidelines of the 40th anniversary celebration of the National Economic and Development Authority (NEDA) at its central office in Pasig City.

Aquino, however, refused to give details on how much will be the increase on the country's growth performance.

"Naka-embargo (pa) 'yung data. Before the official release, I cannot comment on it," he said.

But, the President said, "definitely, we will exceed the six percent target for this year according to the NEDA director general projection."

President Aquino cited NEDA's contribution to the country's strong economic performance in 2012.

"If we want to be sure that our efforts will yield the best results, our next moves must be calculated. The timeliness, accuracy, and relevance of the economic data you (NEDA) provide allows not only the national government, but the wider public, including investors, to make the decisions that will allow us to realize the vision defined in the Philippine Development Plan. We are counting on you," the President said in his speech.

President Aquino also thanked the NEDA for "ensuring that (the) official development assistance is used appropriately for the development of the Philippines," and "providing the national government with the data and analysis necessary for informed decisions."

The agency also provides evaluations and assessments of government's biggest proposed projects.

"Your work is invaluable in our quest to sustain our economic development," he said.

Aquino, however, stressed that much more needs to be done to ensure that sustainable economic growth.

"The data shows that the Philippine economy is growing. As it reveals the work we have put in and accounts for our successes, the data also reminds us of the need to ensure that this growth is sustainable and broad-based, so that we can sooner achieve our goal of inclusive growth," he noted.

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