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PIA Press Release
2006/10/05

Commentary: Economy in good shape, upbeat

Negros Occidental (5 October) -- As the peso continues to gain strength versus the dollar, the rollback on prices of oil and liquified petroleum gas, improved revenue collections, the local investments in Negros Occidental is contributing to the overall health of the economy with P6.97 billion in local investments.

The report from Department of Trade and Industry shows that the said investment is generated from business name registrations in the first three quarters of the year.

The positive assessments by credit-rating firms and foreign investors are a good omen of imminent economic take off and the World Bank’s $410-million loan is a clear manifestation of confidence in the sustainability of the Philippines’ fiscal programs in the coming years.

Press Secretary Ignacio Bunye credited the rise in the value of the peso in the overall discipline and spirit of enterprise of the Filipino. He added that the country is reaping global confidence for the sound stewardship of reforms, tough decisions, and growing political stability.

These positive outlooks on the economy speak well of the things to come and the Government calls on the people to sustain the momentum by upholding excellence, productivity, and unity that will assure benefits of the growth until finally the country reaches its economic goals.

However, the economic team is coming out with mitigating measures to assist the export sector, balance out the situation, and maintain a business environment that would spur more jobs and better infrastructure. (PIA/EAD) [top]

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