President Benigno Aquino 3rd once again bragged that the country achieved “inclusive economic growth” because of his administration’s good governance and reforms.
In a speech he delivered to open the Asia-Pacific Economic Cooperation (APEC) leaders retreat at the Philippine International Convention Center (PICC), Aquino noted that the country’s gains were achieved through “structural reforms and good governance,” allied with support from the public at large.
“This APEC hosting is an opportunity for the Philippines to showcase the results to the world. These past five years, the Philippines has experienced strong economic growth—fastest in four decades—thanks to good governance and critical structural reforms,” he said.
The President said the country experienced inclusive growth and not just “growth for just growth’s sake.”
“We are proud of our growth… but the Philippines has set aside trickle down economics, chosen to invest in our people so that growth is felt by every citizen,” Aquino added.
The President also cited the government’s training for work scholarships and health care programs, including the conditional cash transfer program under which poor families received a monthly cash dole out.
He said initiatives like these “help people regain control of their own destinies.”
Aquino said the Philippines’ growth agenda involves all segments of society as invaluable participants in a growth that is holistic, creates jobs, sends children to school, puts food on table raises standards of living, protects the environment, fosters creativity and innovation and levels the playing field.
“In short, growth that balances the pressing needs of the present with our shared mission of living beyond the region and a world that is better than what we found,” he added.
He expressed hopes that the APEC summit “will become an incubator for ideas that improve our regions’ prospects for the future.”
Before Aquino opened the retreat, the leaders from the 21 member economies had their traditional family photo taken at the lobby of the PICC Delegation Building.
Chinese President Xi Jinping was the last to arrive at the venue. He spoke with Aquino for a few seconds.