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PIA Press Release
2006/09/01

Gov't fiscal gains expected to propel economic growth

Cotabato City (1 September) -- The peso nearly broke the 50-peso barrier on account of positive investor sentiment arising from the government's fiscal gains and expectations of decent economic growth numbers.

The positive outlook of the international community on the country is a tacit recognition and a clear indication of confidence in the Filipino people.

Aside from the strong peso, improvements in the agricultural sector, higher exports, and robust remittances that drive higher consumer demand are expected to propel the country's economic growth.

As this developed, the Philippines is braking the psychological thresholds in the market as fast as the economic takeoff is nearing.

According to the Bangko Sentral ng Pilipinas (BSP), inflation this month is within the 5.8 percent to 6.5 percent range because of the strong peso.

Growing stability and burgeoning enterprise will save the day for the millions of poor who are waiting for the social payback of the economic reforms. That payback is soon to be realized in terms of investments, jobs, infrastructure, education and better services. (pbc/PIA 12) [top]

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