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PH posted ‘robust’ growth in Q2

Neda chief cites positive economic indicators


Economic Planning Secretary Arsenio Balisacan INQUIRER FILE PHOTO

The Philippines is poised for strong economic growth in the second quarter of 2013 as domestic and foreign investments continued and more locally sourced goods were exported during the period, Economic Planning Secretary Arsenio Balisacan told reporters.

“I think it’s going to be quite a robust growth because so far the indicators are positive,” said Balisacan, who also heads the National Economic and Development Authority. “I still expect that investments will drive growth in the second quarter, that the pace of expansion in the last two quarters of 2012 and in the first quarter of 2013 will continue.”

In general terms, Balisacan said second-quarter growth was likely supported by the same drivers in the first quarter: Manufacturing, private and public construction, consumption and remittances.

Trade growth could be tame, Balisacan said, adding that imports and exports growth targets for the year might have to be lowered to single-digit growth instead of original estimates of 10 percent for imports and 12 percent for exports). “Even the private sector has revised downward (its targets) so we have to consult with them,” Balisacan said.

International industry analysts see the semiconductor industry growing moderately in 2013, according to the Neda. “This may signal a recovery in the country’s electronics exports in the coming months following a series of contractions since December 2012.”

Balisacan also noted that the growth of agricultural exports as well as services exports through BPOs were growing. Trade in services is growing rapidly at a double-digit pace, which Balisacan said made up for the softer growth in merchandise exports.

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Tags: Business , economic growth , NEDA , Philippines

  • RealityCheckX

    This Balicasan is spouting Malacañang propaganda, presumably to keep his job. Notice he had nothing to say about infrastructure. I absolutely do not believe him about investment, which is not doing well at all because of govt. neglect and oppressive policies (e.g. mining).
    So here we go again, taking credit for an economy that generates no jobs in industry and trade, the latter because we import too much from Red China.

  • jo

    guys, positive economic growth is still good for all of us…. trickle down effect will just wait for sometime, after decades of mismanagement what do you expect? atleast our leaders are doing good in there job….be positive and pray a lot the days of reckoning is coming ……..

    • superpilipinas

      sometime means what?…..20 years?

      si juan tamad nakanganga hinihintay mahulog yung bunga ng bayabas. he-he-he.

      • jo

        bat matagal na tayong nakanganga ah..eh andyan yong bunga saka kapa di magtitiwala……..change comes from us..choose the right leaders and learn to sacrifice for others….

  • Ako_Hiking

    All this robust growth and economic upgrades will all be pointless if it does not trickle down to the poorest of Filipinos. What’s the point of a growing economy if the majority of its citizens remain unemployed and poverty stricken.

    • philspratly

      not really. If the growth will slow down, I am sure the unemployment and poverty rates will rise. The robust growth registered did not improve the poverty rate as it remained at the 28% level of 2009 but I am afraid that if growth slows significantly , the number of the poor will worsen.

      • Ako_Hiking

        Growth should continue but the Aquino Administration must do more and must do a better job in making sure that the growth trickle’s down to the poorest of Filipinos. Aquino seems content in showing off numbers but it’s pointless if poverty and unemployment just continues to increase.

      • philspratly

        true, i agree with your observation. They have to go beyond impressive numbers and go for the hard reality– make sure growth improves the poverty and unemployment levels .. and make it soon !

      • Ako_Hiking

        That’s the thing..impressive numbers aren’t bad they are actually good but when the apparent good economic numbers don’t reach the poor and improve the lives of the Filipino masses then what’s the point.

    • superpilipinas


      the point is for the rich to become richer and the poor to die so poor people will be lesser!

      • Ako_Hiking

        The Aquino Administration need to do a better job at working to ensure that the economic growths reach and benefit the poor. They cannot rely on economic upgrades and feel that everything is all good.

  • Zim

    where are the figures????

  • disqusted0fu

    Why is it that these domestic and foreign investments do not translate into quality jobs? Why is it that the ‘robust’ economy in general is not having significant effects on the main concerns of our country? For all we know, the economic growth could only be because of the lavish spending during the elections. We are not sure how sustainable it is

    • philspratly

      good point. According to Mr. Habito, the ranks of the unemployed are mostly the young with high school diplomas who cannot be absorbed in the growing BPO and IT sectors as they lack the qualifications. The manufacturing and agri sectors are the right job venues for these unemployed but unfortunately, the growth are not big enough to absorb them.

    • superpilipinas

      as World Bank and Japan government officials had already said……sever lack of industrialization that would have provided jobs and sustain growth.

      this government lacks competence…..and worse, suffers from corruption.

  • Chrisnadal19

    the negastars are crying out loud.. poor them.. wait till 2016, malapit na ang dark knight.. and then you’ll feast with the negative news around.

    • philspratly

      It is good news indeed. I think most people would be happier to see a good growth rate coupled with a reduction in unemployment and poverty rates. Hope this happens and it will be sustained. We have to learn how to count our blessings but of course, there is always a saying that ” we could have done better.” Would critics be happy if growth dropped to 3-4% next year and unemployment rate at 10% ? I hope it does not happen though. the though of binay as president in 2016 is indeed dreadful.

  • water_gate64

    Crucial job creating FDI continues to fall under the incompetent leadership of Aquino and his vacuous acolytes, with the laggard Philippines now on track to be overtaken by Myanmar during 2013; leaving only Cambodia with a lower inflow of FDI funding throughout the region. It is obvious that Aquino and the buffoons that pass as his economic managers could not care less about continuously rising levels of unemployment and abject poverty afflicting 30+ million Filipinos, so long as they can brag about credit ratings upgrades and non-inclusive growth that serves only to feed the insatiable greed of Aquino’s rich and powerful masters.

    • Lakan Dupil

      Ano daw?? Nalimutan mo ang mga positibong bagay na nangyayari sa bayan. Punahin at iwaksi ang kalukuhan subalit huwag kalimutan ang mga positibo. Unless tuta ka ni Gloria at ni Joma Sison..mga negastar.

      • Bisdak_kaayo

        Yes there are positive things happening in the country. Give the rightful credit to where it is due. Its because of the BPO and OFW remittance, nothing to do with Aquino economics. BPO and OFW nandiyan na matagal, wala pa si Aquino.

      • rockinLeon

        What are you smoking Bisayan boy? Pres. Aquino’s anti-corruption campaign and fiscal conservative policies with wise spending are the main reasons of the country’s continuous economic growth.
        BTW it’s a myth–the OFWs, (the non-resident workers) share of remittances as compared to the Pinoys who became permanent resident or citizens of their adopted country is not even close. The latter are responsible for the 70% of the total annual remittances. These people are from North America and Europe. They also have established investments in the country. So do your research. OFW remittances help the economy but not as much as you tend to believe.

      • Bisdak_kaayo

        Whatever you call them OFW or migrante (like me) you just acknowledged, they were instrumental of the lion share, not Aquino Economics.
        What are you sniffing? the panty of Kris Aquino? Anti corruption of Aquino? puno pa rin ng mga kotong ang bureau of customs, si Pnoy mismo ang umamin sa SONA, The current government has its own set of scalawags. how soon you can forget. patawa ka ba? KAYA pataas ng pataas ang ang GIR dahil sa bpo and ofw remittances not because of FDI, kulilat tayo sa FDI. Ang yabang TO claim credit for FITCH rating upgrade, but cannot accept, FITCH rating crediTED GMA for fiscal policies. Hindi matanggap ang totoo dahil the truth really hurts. FITCH credited GMA not PNOY. The problem of PNOY alipores like you. YOU SELECTIVELY quote favorable news and comments from agencies like FITCH and survey firms like SWS, but cannot accept negative comments which equally are credible from these institutions. You accept them as truth it favors PNOY, but cannot accept their pronouncements if its negative for PNOY. selective use of propaganda information. PWEh, nothing new and nothing to brag really.

      • crisostomo_ibarra_the3rd

        Are you taking your medicine? Your claims are as ridiculous as Corona’s claim of co mingling of funds. Puro ka palusot! Lol!

      • Bisdak_kaayo

        more than 30 years bago naiptupad ang CARP sa hacienda luisita. kapal ang mga mukha. Dahil sa sobrang asenso na ang Pinas, patuloy pa ring nagsilayas ang mga PINAY para mag DH sa HONGKONG. pweh. gumising sana ang mga epokrito sa katotohananan.

      • crisostomo_ibarra_the3rd

        Unfortunately bro, ganoon talaga katagal ang justice system kung ang issue ay umabot sa kataas taasang hukuman.

        Sobrang asenso na ba ang Pinas ngayon? It is just beginning to scratch the surface bro. Mula sa baluktot na daan ng wangwang mentality, nasa tuwid na daan na tayo ngayon.

      • Bisdak_kaayo

        baloktot na justice system, dumaan pa sa lokohan ng issuance ng stock certificates ng hacienda luisita bago ma implement ang CARP.

        And the PNOY alipores claim the current administration is sincere in its anti corruption drive.

        May sincere bang dumaan pa sa lokohan ng stock certificates? 30 years to implement, indeed a benchmark of sincerity.

      • crisostomo_ibarra_the3rd

        Bro, time to move on. Nadesisyunan na ng SC yan. Sa September umpisa na ng lang distribution ng Hacienda Luisita. Hindi mo pa rin ba matanggap yun? Seriously, time to move on.

      • Bisdak_kaayo

        I can move on, but do not fool the people believing the current administration is sincere in its anti corruption drive. 30 years to implement a benchmark of sincerity indeed.

        Dumaan na sa lokohan ng stock certificates, ngayon lolokohin pa ang mga tao na sincere daw. patawa talaga.

      • crisostomo_ibarra_the3rd

        Fooling the people? Ano ka hilo? 80% of the people actually believe that the administration is sincere and can be trusted. Even the stock certificates na sinasabi mo is not even related to the government. And these 80% of the population believe that Pnoy really does not have any business interest in Hacienda Luisita. You, together with the reklamadors belong to the 7% of the population na nasa GMA frame of mind pa rin. Nothing will change your mind to support Pnoy. You are not even part of the Bosses ni Pnoy.

    • Chrisnadal19

      only if FDI is your basis…. what a poor analysis. GDP does not rely alone on FDIs.

      • Tommy

        Also, he’s wrong. FDI went up 54% in 2012.

      • water_gate64

        Increasing levels of GDP and more particularly GDP per capita growth, are certainly amongst a range of valid indicators of economic performance. The issue for the Philippines however, is that GDP growth which is underpinned to a large extent by appreciation in equitiy prices, investment in financial instruments and other transient capital flows, will not deliver sustainable improvements to the welfare and prosperity of the vast majority of Filipinos.

      • Tommy

        A.) 9.8% is still an increase, so you’re still wrong.

        B.) Not sure why the ADB and government numbers differ, I’d imagine that it has something to do with inflow calculation. Citibank claims an even higher FDI growth rate of 185% (http://wwwDOTabs-cbnnewsDOTcom/business/07/05/13/philippines-catching-fdi-citi)

        C.) 9.8 % is not an ‘anaemic’ increase. Most countries would be bloody thrilled to have a near 10% increase in FDI every year.

        D.) Again, you’re wrong.

      • water_gate64

        My point was that Philippines’ FDI had declined year on year during 2013 NOT 2012; which is both a fact and a major concern.

        The BSP is the central bank of the Philippines and responsible for measuring FDI; not Citibank.

        9.8% growth may not be regarded as anaemic by the type of individuals who are content to see the Philippine economy remain as the laggard of Asia. The Philippines has already been overtaken by Myanmar during 2013, is headed directly to the bottom of the ASEAN barrel.

        The yardstick for Philippines’ annual FDI is abysmally low; during the presidency of FVR Vietnam had already overtaken the Philippines, now under the lacklustre leadership of Aquino, the annual FDI gap has blown out to a whopping 3.7 times.

        It is also a reality that Ignorance, indifference and denial remain as the hallmarks of perennial losers.

      • Tommy

        Various countries and entities have different methods for measuring FDI. Based on the numbers, it is easy to conclude that there are differing methodologies at play here.

        Given that we’re comparing the numbers to other countries, it is only logical to use the numbers of the ADB / Citibank, as the BSP is NOT the central bank for the likes of Thailand, Indonesia, etc. as well.

        And yes, the yardstick for the FDI IS low. That isn’t the current administration’s fault, and they can only essentially do the best with what they were given.

        All of which is to say that you were wrong and you STILL haven’t owned up to it. And you say I’M the ignorant one?

      • water_gate64

        The most reliable and consistent economic measures originate with the central banks of the nations in question; hence my reference to figures issued by the BSP in terms of the Philippines.

      • Tommy

        And given that you’re comparing it to the figures of other central banks, which may use different criteria, would you not agree that using a standard measure from a neutral, reputable third party would be better?

      • Chrisnadal19

        you miss local investments in your analysis.. the fact that investments is now a growth driver (check GDP date) and not just government as you might presume, it’s the local private businesses that’s pushing investment if FDIs are falling. Local businesses are more bullish than foreign businesses and the latter’s investments will really take time.

        What is needed for the government to do is to continuously make the business environment conducive and ensure a level playing field by not favoring very few local businesses controlled by the oligarchs.

      • water_gate64

        Whilst we remain hopeful that local private investors will step up their commitment of support, and there is some evidence of this occurring over time, the scale of investment required to lift tens of millions of Filipinos out of abject poverty, simply outstrips their capacity/willingness to reinvest profits.
        Your point about establishing a level playing field is moot, as the oligopoly circumstances that exist within many key industries, and ability of the ruling elite to manipulate politicians, LGU’s and the judiciary is a distinct barrier to attracting much needed investment capital.

    • Tommy

      ‘Crucial job creating FDI continues to fall under the incompetent leadership of Aquino and his vacuous acolytes’


      2011 Philippine FDI: $1.81 billion

      2012 Philippine FDI: $2.79 billion

      Source: wwwDOTphilstarDOTcom/business/2013/06/27/958606/phl-lags-fdi-inflows-asean

      (Replace ´DOT´s with actual dots.)

      Apparently an increase of 54% is ‘falling’ now.


      • water_gate64

        MANILA, Philippines – Foreign direct investments (FDI) went down by 8.5% during the first quarter of 2013, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Monday, June 10 2013.

        The country received $1.3 billion in net investments in January to March of 2013, slightly lower than the $1.4 billion in the same period last year.
        Presumably your gutter snipe closing epithet was in reference to yourself; as it is clearly most felicitous.

      • Tommy

        Still higher than when he took over.

        You still lose.

      • water_gate64

        The irony of the situation from your perspective, is that although I personally remain unaffected by Aquino’s lack of courage, integrity and inutile leadership, your own status in the pantheon of winners and losers is patently obvious.

      • Tommy

        You assume I care about whether or not you’re affected. I do not.

        My point here is (and always has been) that you are a liar.

        And given that you’re not even contesting that anymore, I think it’s fair to conclude that you are, indeed, a liar.

      • water_gate64

        It is sort of appropriate in a way, when the patently obvious envy of a perennial loser like you is laid bare, in a torrent of factually
        inaccurate, vitriolic, gibberish. Thanks for taking time to provide a guttersnipe’s perspective; albeit without either a modicum of truth or shred of credibility.

      • Tommy

        Whatever, liar.

      • water_gate64

        Thank you at long last for your begrudging acknowledgement of the truth.

      • Tommy

        Nope, you’re a liar. The cold, hard data proves it.

        Not man enough to admit you’re wrong, I see

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