President Aquino said sustaining the economic growth achieved in 2012 would be among the serious challenges his administration would face in the next three years.
A World Bank official has called the huge number of unemployment and underemployment in the Philippines as a huge challenge for the Aquino administration.
Living up to President Aquino’s advance information that the numbers would impress, the Philippine economy expanded 6.8 percent in the fourth quarter of 2012, lifting full-year growth to 6.6 percent.
Visiting American economist Nouriel Roubini hailed the Philippines as an “economic success,” citing the country’s potential to move toward a higher growth rate of at least 7 percent a year.
“All of us will be impressed,” President Aquino said Tuesday of the report on the full-year economic growth rate in 2012, which the government planning agency is set to release Thursday.
President Aquino on Friday wrapped up his World Economic Forum (WEF) debut performance with a new stream of prospective institutional investors, new projects with existing investors, and a deal for the Philippines to host the WEF’s East Asia summit next year.
Joining the World Economic Forum (WEF) for the first time, President Aquino will invite more investors and tourists to come to the Philippines to create more jobs and sustain the country’s economic momentum beyond his term, Communications Secretary Ricky Carandang said.
President Aquino is scheduled to arrive here early Thursday morning on a three-day visit seen to herald the Philippine growth story to global business leaders, fellow heads of state, multilateral institutions, civil society and the Filipino-Swiss community.
President Benigno Aquino is upbeat about the prospects of the future Moro homeland in Mindanao, Bangsamoro, especially as a hub of information technology (IT) and business process outsourcing (BPO) companies.
The Philippines, riding on a 5.9-percent economic growth in the second quarter and a phenomenal surge in global competitiveness, is poised to post a 6 percent economic growth for the year, President Benigno Aquino said Wednesday.
The issuance of the long-awaited Executive Order No. 79 on mining reforms drew generally positive reactions from the mining industry.
As President Benigno Aquino closes his first 700 days in office and begins his last 1,400 days, it has been the best of times and the worst of times.
