Latest economic growth figures show gov’t on right track — Bunye

Malacañang said yesterday that the recent growth figures as measured by the gross domestic product (GDP) show that the administration is on the "right track" in managing the country’s fragile economy.

Strong production in the agricultural sector boosted the five percent growth in GDP for the first quarter of the year as reported by the National Economic and Development Authority (NEDA), Presidential Spokesman Ignacio Bunye said in a radio interview.

Bunye attributed this to the strong production of rice, corn, poultry and other livestock under the Arroyo administration. He specifically cited the propagation of "Gloria rice," a high-yielding rice variety, that strengthened the agricultural sector.

He said the improvement in GDP growth coupled with remittances from overseas Filipino workers will increase the country’s gross national product, which is traditionally used to measure the economic growth of a country.

"What is important is that we see the growth in our economy," Bunye told Radio Mindanao Network in an interview. "We are right in giving emphasis on a particular sector and this is the agricultural sector."

However, he explained that the benefits of the growth improvement — or what he described as the "trickledown effect" — will only be felt by all sectors after a sustained period of two to three years.

He expressed confidence that the "positive developments" in the country will not be affected by the tense post-election situation arising from charges of electoral fraud hurled by the opposition.

Despite the "localized cheating" that went on during the May 10 national elections, Bunye denied anew that fraud on the national scale took place.

He cited the observations made by poll watchdog National Movement for Free Elections (Namfrel) and Parish Pastoral Council for Responsible Voting (PPCRV) that the electoral exercise was generally peaceful and clean.

"Again, although it can be said there was localized fraud, this is not systematic and not on a nationwide scale," he said.

Bunye lauded Namfrel volunteers who helped in the conduct of their quick count. "They (volunteers) are very well-meaning and they tried their best to provide an accurate account."

The political opposition, however, has accused the independent poll watchdog of trending to make it appear like President Arroyo is winning the race.

Earlier results from Namfrel showed the President pulling away from closest rival, opposition bet Fernando Poe Jr. But before Namfrel packed their bags Friday to continue their quick count in another venue, its quick count showed Poe gaining in on the President.

Official final results may be known in a week as Congress starts the canvassing of votes tomorrow and proclaim the winners for president and vice president.