Riding on the high of a better-than-expected 6.6-percent GDP growth for 2012, a Palace Spokesperson on Thursday revealed that the administration expects the incoming midterm elections to bolster spending in 2013, helping to achieve the fresh goal of 6- to 7-percent growth for the year.
“We certainly hope the [2013 targets will also be surpassed. After all,] we have the coming election season so we expect expenditures to rise, and we expect infrastructure to continue to grow,” Presidential Spokesperson Edwin Lacierda said in a briefing.
Lacierda added that the administration’s policies have a lot to do with the country’s robust economy.
“Good governance means good economics. Private sector activity has been enabled by the Aquino administration's dedication to positive reform,” he said.
“The continued growth of our GDP is proof positive of our ability to sustain a united march forwards along the straight path toward equitable progress,” he added.
Earlier, the National Economic Development Authority announced that the Philippines surpassed growth targets for 2012, surpassing the projected target of 5 to 6 percent GDP growth. The Office of the Presidential Spokesperson made a similar announcement.
“The Philippine economy grew by 6.8 percent in the 4th quarter of 2012, bringing full year growth for 2012 to 6.6 percent. This is higher than the government's official target of 5 to 6 percent,” Lacierda’s statement said.
The statement added that investments in particular have helped grow the Philippine economy.
“While growth was initially driven by government stimulus, it is now being increasingly driven by private sector activity, including investments which grew by 8.7 percent in 2012,” it said.
The full-year 2012 figure was significantly higher than 2011's 3.7 percent and was slightly higher than the National Economic and Development Authority's (NEDA) 6.5 percent GDP growth expectation.
“We certainly hope the [2013 targets will also be surpassed. After all,] we have the coming election season so we expect expenditures to rise, and we expect infrastructure to continue to grow,” Presidential Spokesperson Edwin Lacierda said in a briefing.
Lacierda added that the administration’s policies have a lot to do with the country’s robust economy.
“Good governance means good economics. Private sector activity has been enabled by the Aquino administration's dedication to positive reform,” he said.
“The continued growth of our GDP is proof positive of our ability to sustain a united march forwards along the straight path toward equitable progress,” he added.
Earlier, the National Economic Development Authority announced that the Philippines surpassed growth targets for 2012, surpassing the projected target of 5 to 6 percent GDP growth. The Office of the Presidential Spokesperson made a similar announcement.
“The Philippine economy grew by 6.8 percent in the 4th quarter of 2012, bringing full year growth for 2012 to 6.6 percent. This is higher than the government's official target of 5 to 6 percent,” Lacierda’s statement said.
The statement added that investments in particular have helped grow the Philippine economy.
“While growth was initially driven by government stimulus, it is now being increasingly driven by private sector activity, including investments which grew by 8.7 percent in 2012,” it said.
The full-year 2012 figure was significantly higher than 2011's 3.7 percent and was slightly higher than the National Economic and Development Authority's (NEDA) 6.5 percent GDP growth expectation.
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