Friday, March 15, 2013

Philippine Economy Growing and Stable in 2013

The administration coalition Team PNoy Thursday welcomed the positive prediction of economists on the country's highly-probable stellar performance this year.

Team PNoy spokesman Deputy Speaker Erin Tañada said the Aquino administration continues to make concrete plans and actions to further expand the elevated momentum of the country's economic performance this year.

"Aside from setting the government free from corruption, the President strictly monitors the economic expansion of the country to surpass the historic 6.6 rate we gained last year," Tañada said.

In a panel briefing at the Euromoney Conference Philippines Investment Forum early this week, Matt Hildebrandt, J.P. Morgan Bank chief Philippine economist and head of Asia sovereign credit strategy, said the Philippines could become the better—if not the best—stories in the next 12 months.

"However, you'll find that institutional reforms are most important, among those are spending in education and health which makes the labor force more productive," explained Hildebrandt.

In a Malalos campaign rally Wednesday night, Team PNoy team manager Senator Franklin Drilon asked the voters to support the economic programs of President Benigno Aquino III by giving Team PNoy 12-0 win in the senatorial race in May 13.

"The last two years is not enough to the turn the country around but choosing our Team PNoy candidates is crucial is achieving the economic gains achieved by President Aquino specially the 6.6 economic growth," Drilon told the record high 20,000 crowd.

Team PNoy senatorial candidate Sonny Angara said the next Senate should pass legislations that would complement President Aquino's efforts to usher in an era of inclusive growth and across-the-board prosperity.

Angara said that he has a ready body of draft laws built on agro-manufacturing, modernized agrarian reform, education-focused infrastructure spending and school modernization that he would push at the Senate if elected .

President Aquino, in addressing the Euromoney Philippine Investment Forum 2013 early this week, said the Philippines was peaking toward the regime of "inclusive growth," adding that investments in agriculture, tourism and infrastructure would help hasten the realization of all-around growth.

The Philippine Development Plan 2011-2016 prepared by the National Economic and Development Authority defines inclusive growth as "growth that is rapid enough to matter, given the country's large population, geographical differences, and social complexity."

It is sustained growth that creates jobs, draws the majority into the economic and social mainstream, and continuously reduces mass poverty.

According to Angara, economic disparities and poverty can only be addressed by enhancing the strengths and resources of communities and "building growth from below."

"Growth cannot be a trickle-down thing . We have to build it from ground up," said Angara .

Angara said that agro-manufacturing, a modernized agrarian reform program, fisheries and silviculture should be included in the ramped-up investment program of government to address the underdevelopment in the rural areas.

He said the government should also train LGU leaders to enhance the public management and leadership and invest heavily in skills and livelihood trainings

Angara, a Harvard-trained lawyer, had authored and co-authored some 50 bills that Congress had passed into laws.

His serious work in the area of legislation has been recognized by many private and public organizations and award-giving institutions .

He said the coalition's platform is paramount to achieving economic stability and resolving the needs on education, health and social programs.

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