Manila, Philippines - The Philippines must not lose its momentum for growth and reforms amid external economic and security challenges facing the country, Speaker Feliciano Belmonte Jr. said yesterday.
In his address to lawmakers earlier this week, he said the House of Representatives has been enacting measures “that have contributed well to the larger task of national growth and development” since the 15th Congress opened in July 2010.
“We close our second regular session in the aftermath of positive news concerning our economy. Our economy expanded by 6.4 percent in the first three months of the year. This is much higher than the 4.9 percent forecasted,” Belmonte said.
He said according to analysts, the Philippines has the highest first quarter growth in the region.
“Clearly, as a country, we must not lose this momentum of change and reform that is now afforded to us,” the Speaker said.
He said the House enacted on time the P1.8-trillion 2012 national budget in support of the government’s goal of achieving rapid, inclusive and sustained economic growth and development.
Other House leaders predicted sustained growth for the country in the coming years and said the good performance of the economy has erased doubts on President Aquino’s reform and governance agenda.
Ang Kasangga party-list Rep. Ted Haresco, vice chairman of the House committee on small business and entrepreneurship development, said the latest GDP figure showed “very good business confidence because of new politics.”
“The business community and the general public now see a new and credible moral compass in President Aquino, so this confidence in the economy is genuine,” Haresco said.
The lawmaker also credited Transportation and Communications Secretary Mar Roxas and Public Works Rogelio Singson for their key role in sustaining the country’s growth that some feared was on the decline when the Aquino administration took over.
“Secretary Singson generated savings and also set new standards in projects conforming to genuine global standards at the right price with the right quality. Secretary Roxas in just a few months was able to implement major infrastructure projects as well as mapping out a transportation strategy to connect our archipelago,” he said.