Philppine Economy Growth

President Benigno S. Aquino III will continue to focus on the country’s economic growth and will not be distracted by the ongoing impeachment trial of Supreme Court Chief Justice Renato Corona, the President’s Spokesman said.

“In his speech at the inauguration of the D’Luxe Bags Philippines, a 10-month-old luxury bag factory in Tarlac, the President said that while his administration holds fast to its commitment to good governance, it also would not waver in pursuing equitable economic growth, citing solid accomplishments such as creating an additional 2.1 million jobs last year, as well as having increased tourist arrivals by about a million additional visitors in 2011,” Presidential Spokesman Edwin Lacierda said in a statement released to the media on Tuesday.

“The great strides that have been made in curbing corruption, fighting poverty, and promoting good governance — the achievements of the past one and a half years—are only indicators of the changes that will continue to sweep the Philippines in the coming years,” he added.

In the recent meeting of the President with the members of the US Congress, Lacierda said the American legislators expressed their confidence in the reform agenda of the Aquino administration.

During the press conference in Malacanang also on Tuesday, Lacierda said he issued the statement to emphasize the thrust of the President on the economy and to counter allegations that the chief executive is losing grip on the economic matters.

Last week, the CNN (Cable News Network), citing a recent assessment by the Hong Kong and Shanghai Banking Corp. (HSBC) reported that by 2050, the Philippines will leapfrog 27 places to become the world’s 16th largest economy.

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