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Wednesday, January 11, 2006
PCCI chair says Heritage report is inaccurate
THE published result of a survey saying that the Philippines is one of the "most unfree economy" among 161 nations in the globe last year is inaccurate, the Philippine Information Agency (PIA) in Zamboanga City said.
This is the reaction of Philippine Chamber of Commerce and Industry Chairman Donald Dee, saying the data used by The Heritage Foundation were that of the 2004 assessment.
Dee said the data was, indeed, inaccurate as it is in contrast to what investors say of our economy. "The assessment runs divergent to what national and local investors speak about the strength and soundness of our economy," Dee said. He added that the survey is far from the real score as the strong economy of the country is very evident.
"Our strong economy is evidenced by renewed business confidence and a buoyant outlook in the Philippine market, driven by good governance, social justice, and free enterprise," Dee, through the PIA, emphasized.
Dee also cited the sudden upsurge of the peso value not just in Asia, but also throughout the world as a proof of the country's economic boom. "We have surpassed our targets and expectations with the peso showing its prowess not just in Asian region but throughout the world - enough to cheapen pump prices of basic commodities such as oil imports and soften inflation," Dee pointed out.
(January 11, 2006 issue)
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