Government economic managers credit President Benigno Aquino III’s efforts towards good governance as the key factor behind the country’s improved competitiveness ratings in the World Economic Forum’s latest survey.
“The unprecedented second consecutive 10-notch jump of the Philippines in the WEF Competitiveness Rankings is once again a major dividend from the good governance reforms of President Aquino,”
Finance Secretary Cesar Purisima said.
He said the upgrades, not just from the World Economic Forum but from major credit rating agencies and various third-party institutions, recognize and affirm the government’s belief that good governance is good economics.
Furthermore, Purisima said that these affirmations only strengthens the administration’s resolve to make the difficult decisions to consolidate the country’s fiscal position, maintain macroeconomic stability, improve the investment climate and ease the cost of doing business.
Budget and Management Secretary Florencio Abad, for his part, said the competitiveness report noted that country’s improving institutions and macroeconomic environment.
“The government will make public institutions resilient to corruption and effective enablers of our country’s competitiveness,”
The WEF said in its latest Global Competitiveness Report that the country placed 65th out of 144 countries in the survey conducted from April to June.
“Ranked 65th, the Philippines is one of the countries showing the most improvement in this year’s edition. Indeed, it has advanced 22 places since reaching its lowest mark in 2009,”
the report said.
This is the second straight year that the country climbed 10 places up the competitiveness ladder. It placed 75th last year from 2010’s 85th spot. — DVM, GMA News
PHL economic managers: Competitiveness ratings due to good governance | September 6, 2012 5:08pm