Gov't vows to pursue more economic reforms

MANILA, Philippines (Xinhua) - The government said today that it will continue to pursue reforms and policies which would boost local businesses and ensure high economic growth.

Presidential Communications Operations Secretary Herminio Coloma, Jr. made the statement as the Philippine government welcomed survey results showing an upbeat outlook among Filipinos in 2014 and the country's improved global ranking in terms of business regulations.

"We will continue to pursue reforms and policies that will create conditions conducive to the growth and competitiveness of businesses that play a crucial role in the attainment of inclusive and sustained economic growth," Coloma said.

The "Doing Business 2014" report earlier released by the World Bank's International Finance Corp. revealed that the country's ranking improved by 30 notches to 108th from 138th, in terms of improvements in business regulations.

Also, a survey conducted by research institute Social Weather Stations (SWS) on Sept. 20 to 23 showed that more Filipinos look forward to a better life in 2014.

Despite the series of natural disasters that struck the country, the Philippine government said economic growth for 2013 would reach 7 percent.

The Philippine government has also maintained its growth projection of 6.5 to 7.5 percent for 2014.