Angara expressed optimism on PPPs as the key success for Phl economy

by Jason de Asis on Saturday, January 15, 2011 at 8:50am

SENATE OFFICE, Manila, January 15, 2011-Senator Edgardo J. Angara, vice-chair of the Senate Finance Committee expressed his optimism for the Philippine economy in the new year, anchored on foreign investments and Public-Private Partnerships (PPPs) to boost the country’s 2011 economy.


In a published review of the country’s 2010 economic performance, the Senator said that he saw a steady growth in the economy despite its slow recovery than other more advance countries from the recession which means a good indicator of its strength and stability.


He said that even the Bangko Sentral ng Pilipinas (BSP) announced that the Philippine economy fared better than its counterpart expected last year wherein the country’s economy registered a growth rate of about 7 percent, significantly higher than the government’s optimistic target of 5 to 6 percent.


“This is an acceptable inflation rate of 3.8 percent, which is in the lower quadrant of the BSP’s projections,” he said, adding that this kind of statistics invite big-ticket foreign investments that we need to keep the momentum of the Philippine economy.


To prove that the country’s economy is capable of handling their capital, Angara said that there is a need to focus on creating viable development projects for 2011; moreso, PPPs hold a bright future for the Philippine economy.


Angara asserted that this is the way to show to the world that the country is a major investment option in strengthening the PPP’s between the private institution and the government to improve different infrastructure and development efforts nationwide. This indicates to restore the former glory of the Philippine’s uprising economy. (Jason de Asis)






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