• Palace cites infrastructure spending for high growth

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    MALACAÑANG on Thursday welcomed the 7.1-percent gross domestic product (GPD) growth registered in the third quarter, attributing it to accelerated spending on infrastructure and poverty-reduction efforts.

    In a statement issued by the Presidential Communications Office, Finance Secretary Carlos Dominguez 3rd said there would be no let-up in the Duterte administration’s commitment to spend big on public works as well as on human capital and social protection, to guarantee high and inclusive growth.

    On Monday, the Duterte administration approved seven infrastructure projects worth P270 billion, including the North-South Railway Project.

    Presidential Communications Secretary Martin Andanar noted that the 7.1 growth GDP growth achieved in the third quarter was the fastest since the second quarter of 2013.

    “This is higher compared to the country’s 6.2 percent GDP growth during the same period a year ago,” the Palace official said.

    “This underscores that the Duterte administration offers more than [the]war on drugs and that we have a sound economic vision and agenda that will spur growth to benefit the lives of our countrymen, especially the poor and the marginalized,” he said.

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    3 Comments

    1. The so-called growth we are hearing is just consumer driven. Not really productive.

      But we can still capitalize on this to build the infra necessary for future real productivity in the agro-industrial concerns.

      We can not always be dependents on our servants abroad ( ofw’s) or our local “parrots” ( BPO workers) to support our economy.

      At least there is a path for us to follow and work on. lets roll our sleeves and work hard for this. Try not to forget about eliminating the bad things. Expose the evils, report the bad deeds of our bosses, learn some discipline.

      • You may need not to mention comments about our country’s dependency on servants and parrots, as disgustingly termed them. These people have decent jobs to feed their families and satisfy their daily subsistence. If you agree with the positive economic growth, then just focus your positivity to that without degrading others. You are such a moronic SOB.

    2. Roberto Saguing on

      The yelloooooows hates these kind of news… but will focus instead on the negatives. There are lot of factors imho, but it can be summed up is one word: leadership.
      The president is not perfect, but he is a natural leader, who is relentless in his programs and advocacies… and most importantly to us ordinary pinoys… he wears his love of country in his sleeve, and despite his potty mouth.. he means well for all of us.