Palace optimistic despite survey on economy perception

MANILA, Philippines — Malacañang vowed to continue working for inclusive growth after the Social Weather Station (SWS) released a survey stating that fewer Filipinos expect a better economy in the next 12 months.

“Our goal, in addition to growing the economy, is make sure that all Filipinos are included in the growth,” Presidential Spokesman Edwin Lacierda said in a press conference Tuesday.]

“It’s a growth that is not only for one sector but growth that will benefit the Filipinos,” he added. 

Lacierda noted that the SWS survey was based on the personal observations of the respondents.

RELATED: Fewer Pinoys see better economy

The Second Quarter 2014 Social Weather Survey conducted from June 27-30 showed that 26 percent of Filipinos are optimistic that the Philippine economy would get better next year while 24 percent said it would deteriorate, for a net optimism score of 2.

The score was seven points below the high 9 (28 percent optimistic, 19 percent pessimistic) in the previous quarter and the lowest net economic optimism score under the Aquino administration since net zero in December 2009.

The survey also found that 39 percent of Filipino adults expect heir personal quality of life to improve in the next 12 months while eight percent believe it would get worse, for a net personal optimism score of 31.

SWS said this was up by one grade from the 29 (38 percent optimists, nine percent pessimists) in March 2014.

Lacierda noted that the survey was conducted before the second quarter growth figure was released.

The National Economic and Development Authority reported last August 28 that the Philippine economy grew by 6.4 percent in the second quarter, the second fastest growing economy among major Asian countries for the period.

The figure is lower than the government's full-year target of 6.5-7.5 percent but higher than the revised 5.6 percent growth in the first quarter.