Despite a slowdown in the country’s gross domestic product (GDP) in the second quarter, Presidential Spokesperson Harry Roque Jr. remains confident of the country’s economic fundamentals.
The National Economic and Development Authority (NEDA) earlier announced that GDP slowed down from 6.6% from the last quarter to 6% this quarter.
“I don’t think it is alarming because 6% is still high. We may not have met the target, but 6% is very high,” Roque said.
Secretary Roque further said Thursday, April 9, that the President’s policies might have adversely affected the economy but these policies are for the long-term benefits of the nation.
“If GDP will further fall because of the desire of the President to protect the environment, so be it. We’re investing in the future and not just in the present,” Roque added.
The Cabinet official was referring to the closure of Boracay, which has been reported to have contributed to lower economic growth in the second quarter.
“I don’t think we should approach Boracay purely from a financial and economic point of view,” he said, noting that the President has given higher priority to the protection of the environment.
As to the high inflation rate, the President’s spokesperson assured the public that the government is doing its part to address the issue, including eyeing the possible lowering of agricultural tariffs.
“Sa tingin ko po sa sinabi ni [Trade] Secretary [Ramon] Lopez magkakaroon po ng pagbaba ng taripa pero nagsalita na rin po si [Agriculture] Secretary [Emmanuel] Pinol na hindi pupwede ang zero kasi out and out war daw ‘yan with our agricultural producers kung tatanggalin naman ng taripa,” Roque said.
Roque’s remarks were in response to reports that there is an executive order to be signed to set tarriff to zero to ease food inflation.
“Hahanap po tayo ng balanse para magamit po natin ‘yung taripa at ‘yung importations para instrumento para mapababa pero kinakailangan na pangalagaan din ‘yung interes ng ating mga lokal na magsasaka at agricultural producers,” he added.
‘Palace welcomes report that PH is second best in business optimism in SEA region’
Notwithstanding lower GDP and the high inflation rate, Grant Thornton, an international professional services network, still considers the Philippines as second best in business optimism among Southeast Asian countries, Roque said in the same press briefing.
“The report said that the Philippines is second best in business optimism in Southeast Asia with 82%, which is 8 points higher than the first quarter of the year and above the ASEAN average of 64%,” he added.
The Philippines came second to Indonesia while Malaysia and Singapore came in third and fourth, respectively. (PCO-Content)
