Monday, 07 February 2011 13:50
Malacañang expressed confidence that the government could sustain the economic growth record it posted last year through the strengthening of basic services, overseas remittances and a projected increase in foreign direct investments.
Deputy Presidential Spokeswoman Abigail Valte, in a press conference in Malacañang said, the convergence of these three would result in a “healthy economy.”
“The conditional cash transfer and our other social services, we are banking on that to help keep our consumption buoyant. Second, we continue to expect remittances from abroad; and third, we continue to expect to have more direct investments from investors outside of the country,” Valte said.
“We expect to keep a healthy economy if you take all these three things together,” she noted.
The National Statistical Coordination Board (NSCB) reported that the Philippine economy grew by 7.3 percent in the last three months of 2010.
The NSCB said the strong growth came during a period of peaceful political transition for the Philippines, as President Benigno S. Aquino III was voted into power during the presidential elections in May last year. (PCOO/PIA9-BST)
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