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Tuesday, February 10, 2004
RP economy resilient amid threats, politicking
By Stephen Capillas
AMID the pervasive politicking in the country because of the elections the Filipinos have something to look forward to as far as the economy is concerned.
This was the optimistic view shared by National Economic Development Authority (Neda) Secretary Romulo Neri and Neda 10 Regional Director Casamera Balandra in last Saturday's press conference at the Grand Hotel.
Neri told local media that even with the Iraq war, the Sars threat and the aborted Makati City mutiny, the country did very well economically. "It had proven to be resilient despite these threats," he said.
This perspective was shared somewhat by Development Bank of the Philippines (DBP) National Director Alex Magno though he stressed that there should be some continuity in economic policies.
"The Filipinos's brand of politicking has become rather poisonuous and self-destructive (that it may endanger economic gains)," he said.
For her part, Director Balandra said Northern Mindanao's economy had been particularly robust in the past years owing to the increase in investors.
She said Region 10 is the fastest growing economy in Mindanao as evidenced by its savings rates which is the highest in the island.
"We also have the highest Gross Domestic Product (GDP) per capita growth rate. The entry of Shoemart, Robinson's and other big businesses also signify growth," she said.
Strengthening this positive conviction, Balandra said, is the re-opening of the National Steel Corp. (NSC), which is seen to restore employment in Iligan City and revive the country's moribund steel industry.
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(February 9, 2004 issue)
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