MANILA (Mindanao Examiner / Jan. 31, 2013) – The Philippine economy grew by 6.8% in the 4th quarter of 2012, bringing full year growth for 2012 to 6.6% and higher than the government’s official target of only 6%, Presidential Spokesman Edwin Lacierda said.
“What is particularly important to note is that 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% in 2012. This means growth is becoming more sustainable from a fiscal and macroeconomic perspective. Private sector activity has been enabled by the Aquino administration’s dedication to positive reform. Without doubt, good governance means good economics,” he said in a statement sent to the regional newspaper Mindanao Examiner.
He said the administration’s vision for the economy has always been to ignite a virtuous cycle of growth and empowerment—to enable business and enterprise to flourish; to open doors of opportunity for each citizen; and to invest in them so that they can truly take hold of their own destinies.
“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. Rest assured that while our administration is encouraged by these successes, we will continue to work even harder to maintain our economy’s upward trajectory,” Lacierda said.
20