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PIA Press Release
2006/10/04

Commentary: A roaring economy of the country

By Rodrigo S. Victoria

Naval, Biliran (4 October) -– No wonder why the Filipino people are quite excited and bit happy as the fourth and last quarter of the year begins with good, healthy and vibrant economic signs in sight for the country.

For the common man on the streets who do not have the full grasp of the rosy economic pictures attained by the country at present, the almost weekly lowering of prices of oil products to P0.50 centavos per liter and the recent good news on the lowering of prices of Liquefied Petroleum Gas (LPG) to P2.00 per kilogram are simple signs of economic turn around that bring not only a sense of gratification but an ease to the financial burden carried everyday by the financial managers of each Filipino households.

Relatively, the economic benefits that the common masses have reaped is just part and parcel of the bigger and more stable economic gains that the country have achieved at present.

By trying to look at the larger view of the country’s economy, we can readily see a roaring tiger economy in the picture willing to unleash its sharp teeth to destroy all the odds that may block along the way to economic development.

By taking a closer look at the present economic situation in the country, one can see how the Philippine peso kept its strength as to the dollar which as of 10:00 a.m. in today’s trading of the Philippine stock market is equivalent to P49.91 against 1$.

Foreign and local economists are likewise upbeat with the strong performance of the peso against a dollar coupled with the continued lowering of prices of oil products, thus they likely forecasted an easement of the inflation rate probably at 5.7% to 6.2% compared to 6.3% in the month of August.

Not only foreign and local economists are upbeat with the good picture of the economy of the country but President Gloria Macapagal Arroyo herself who was tightly monitoring the trading of the country’s stock market today.

The President assured the Filipino people that the momentum of the economic gains achieved by the country at present will continue as doubling of the efforts of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) is on headway to achieve the much needed revenue to balance and sustain the country’s economic growth and performance.

Words from Malacañang thru Secretary Ignacio Bunye, Presidential Spokesman, mirrors the economic achievements by saying that the Filipino people and the Filipino nation as a whole are reaping the global confidence from the sound stewardship of reforms, tough decisions and growing political stability.

Press Secretary Bunye said that all of these economic gains are credited to the over all discipline and spirit of enterprise of the Filipino. (PIA-Biliran) [top]

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