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Malacañang on Friday confessed
that the World Bank’s emphasis on the need to rapidly reduce
poverty in the country is true in order to raise the investment rate
by 15 percent in the next two years.
Palace
spokesman Ignacio Bunye said investments in the Philippines are
relatively higher these days but the World Bank’s observation that
government could significantly improve the business climate in the
country with a stronger campaign to alleviate poverty.
Bunye stressed
President Arroyo is working everyday with her team to reduce
corruption, “build the digital and physical infrastructure as well
as a strong energy grid nationwide and rationalize the incentives to
pull in massive investments to create jobs and beat poverty.”
Joachim von
Amsberg, World Bank country director, challenged the government
Thursday to come out with a few policy actions that will move the
country’s economy at least in the next two years.
He pointed
that fiscal measures, which the administration has set in place
including the growth rates, are not enough to lift the investment
rate of the Philippines that remains very low at below 15 percent.
Bunye
reaffirms the country’s solid economic indicators that keep
Philippines in a fighting chance “to achieve at least 7-percent
growth in moving forward to 2010.”
Malacañang
claimed the upbeat mood across all sectors of society “inspires
our unswerving focus on governance, social justice and respect for
the rule of law.”
 --Sam
Mediavilla
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