Malacanang on Sunday, January 28, was elated on the latest report of Moody’s Investors Service that the Philippines is a standout among the ASEAN economies in 2018.
“Moody’s cited increasing trade and domestic demand, stable credit conditions and improved execution of government spending,” Roque said during his press briefing held in the Iloilo Provincial Capitol.
Secretary Roque further added that the Administration’s newly-enacted Tax Reform for Acceleration and Inclusion (TRAIN) Act would contribute to the projected high economic growth this year.
He said that major infrastructure projects under the Administration’s Build-Build-Build Program would spur economic activities, which included creation of livelihood opportunities for Filipinos, with the construction of networks of roads and bridges.
Related to this, the Palace spokesperson cited the World Economic Forum’s (WEF) Inclusive Growth and Development Report 2018 where it classified the Philippines as an emerging economy with sustainability stewardship of natural and financial resources under the national performance key indicator of intergenerational equity and sustainability.
The Philippines ranked 38th among 74 emerging economies in this year’s WEF report describing the Philippine economy as “slowly advancing” from last year’s “stable” ranking. PCO-Content