MANILA -- Press Secretary and Presidential Spokesperson Ignacio Bunye on Sunday said the strong showing of key indicators -- rise in incomes, stable prices and low inflation rate -- reflect the good health of the Philippine economy.
He expressed confidence that the government would be able to sustain the upbeat economic trend.
"Key indicators speak well of the country’s overall economic health. We are confident that we can sustain this trend as we keep up the spirit of enterprise and the faith in the Filipino," Bunye said.
As a result of fiscal reforms, good governance, increased investments and better revenue generation and collection, the government can now afford to undertake more infrastructure facilities and deliver social services more effectively, according to the official.
"The rise in incomes, stable prices and low inflation are signs that people from all walks of life are beginning to get their fair share of the economic momentum that is being propelled by more investments, better infrastructure, good governance and the more effective delivery of social services," Bunye said.
Romulo Neri, Socioeconomic Planning Secretary, reported that the country’s per capita had increased to its highest level since the post-war era.
He said that this year, per capita income would hit $1,400, higher than the 2004 level of $1,200 and the 2002 level of $1,040. On the currency issue, Standard and Chartered Bank Plc. has predicted that the Philippine peso would breach the P50 to $1 mark by yearend due to improving government finances.