Phl Economic Briefing to focus on sustainability

MANILA, Philippines - Government officials will be promoting today the sustainability of the country’s gains beyond 2016 at the Philippine Economic Briefing.

“The country has achieved a lot over the last four years. With the Aquino administration ending in two years, it is keen on promoting confidence that the economic gains and the good-governance agenda will persist beyond 2016,” Editha L. Martin, executive director at the Bangko Sentral ng Pilipinas’ Investor Relations Office (IRO), said.

 “The subject of sustainability has been etched in people’s minds given the significant gains in the economic and governance fronts over the last four years,” Martin said.

The economy expanded by a strong 7.2 percent last year, sustaining the already faster-than-expected 6.8 percent in 2012. The government hopes to grow the economy by 6.5 to 7.5 percent this year despite the six-percent average recorded in the first half.

The country has also received investment-grade credit ratings from the three largest international debt watchers which are seen boosting foreign investments and in turn, creating more jobs.

The briefing will be opened by Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. and will be attended by Socioeconomic Planning Secretary Arsenio Balisacan, Public Works Secretary Rogelio Singson, and Bases Conversion and Development Authority President Arnel Casanova, who will all be discussing big-ticket infrastructure projects that will be pursued in the next two years.

Trade and Industry Secretary Gregory Domingo, Tourism Secretary Ramon Jimenez Jr., and Senator Paolo Benigno Aquino IV, meanwhile, will be talking on the government’s plans for the SMEs and the manufacturing sector.

At the same time, other reforms of the Aquino government will be presented by Budget Secretary Florencio Abad, Cabinet Secretary Jose Rene Almendras and Congressman Romero Quimbo during the briefing.

The Philippine Economic Briefing is a biannual event held to update the private sector and other stakeholders of the government’s plans and initiatives to further grow the economy.