Friday, February 23, 2007 Arroyo satisfied with 7% growth in RP's economy in 2010
PRESIDENT Gloria Macapagal-Arroyo said she is sticking to her growth target of seven percent by the end of her term although she will be happy if Presidential chief of staff Jose Salceda's "789" growth forecast will come true.
Salceda has predicted a growth rate of seven percent, eight percent and nine percent, respectively, in the next three years.
Arroyo, in an interview after a roundtable discussion on the peso, said she has made her Medium-Term Philippine Development Plan (MTPDP) years ago and will keep to its targets.
She said the target of a balanced budget is originally for 2010 but her economic managers felt it could be achieved next year.
"If we achieve it by next year, I'll be very happy. If they achieve seven, eight, nine percent, I'll be very happy. But as far as what we can commit to try to achieve, we already have our medium-term plan," she said.
Arroyo said what is important is that the bureaucracy could handle the absorption because it is only now that the government has so much money. She said the documentation, financial program and the speed of the bidding process take time to adjust.
She said government must work on improving the system, particularly cutting down the red tape. (JMR/Sunnex)
