Palace: Economy growing sans Charter change

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Wednesday, May 14, 2014


THE Philippine economy is growing and it even received recognition from different credit ratings agency even without amending the economic provision of the Constitution, a Palace official said Wednesday.

Presidential Spokesperson Edwin Lacierda was reacting on latest move in the House of Representatives which is now tackling House Resolution No. 1 (Proposing Amendments to Certain Economic Provisions of the 1987 Constitution of the Republic of the Philippines Particularly on Articles XII, XIV and XVI) at the plenary level.

"The legislature is doing its part. But the President (Benigno Aquino III) has always maintained the position that...we have seen economic growth without necessary amending the Constitution," he said in a regular media briefing in Malacanang.

He said what the government has been doing is to "better" the business environment.

"We have been leveling the playing field; and, in fact, proof of this fact that we have created a better business climate would be the credit rating agencies, they have given us investment grade," Lacierda said.

He cited the recent upgrade, which was above investment grade, that Standard and Poor's (S&P) has given to the Philippines.

"So, these things do not necessarily or did not require us to amend the Constitution. And yet people are seeing that we are moving in the right direction," Lacierda added. (SDR/Sunnex)

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