Presidential spokesperson Harry Roque expressed confidence on Monday that the Philippine government is on track in achieving the 6.5-7% seven percent growth rate as forecast by experts.
The multi-investor services sector predicted that the economy of the Philippines will grow by 6.5 percent this year as targeted by the government by year-end.
“We are on track given that we are still in November,” Roque told a press conference in Panacan.
“We achieved a 4.64 percent growth in the agricultural sector from January to September 2017 and 2.3 percent growth in the third quarter of 2017 with a gross value production amounting to P 382.5 billion according to the Philippine Statistics Authority,” he added.
This was attributed to the production gains in the crops, livestock and poultry sub sectors.
“Likewise the Department of Agriculture reported that farmers’ income increased by 3.68 percent from July to September and 4.19 percent increase in the first 9 months of the year 2017,” he said.
He said that the Board of Investments reported that the government has maintained its momentum in attracting investors and generating jobs for the Filipinos. “The BOI reported that the investment approval for the month October alone recorded 187 percent increase in foreign investments amounting to P27.6 billion, this is higher than the 9.6 billion October 2016,” he said.
In addition January to October 2017 period showed a significant growth in overall investments approvals, approved projects and employment generations.
“Specifically 408.7 billion worth of overall investments were gained which is 38.1 percent higher than the P296 billion of the same period last year,” he said.
The approved projects also increased to 30 percent with 369 projects compared to 283 projects last year.
“With this additional investments, there are additional 69,862 new jobs were created on the first ten months which is 35.1 percent higher than last year’s 51,732,” he added.
He said according to Social Weather Station a private non-stock, nonprofit social research institution, 77 percent of Filipinos are also supportive of the government’s effort in rebuilding Marawi.
“The recovery, the reconstruction and rehabilitation of Marawi is no easy task, it is for this season that the president a month after the rebellion broke out signed admin order number three, creating an inter-agency task force Bangon Marawi not only as a means to organize and deploy quick response team to attend to the immediate needs of the affected areas but also to develop and implement a comprehensive rehabilitation and recovery program for the city of Marawi,” he said.
He said during their press briefing last week, retired military general and now head of the Task Force Bangon Marawi Eduardo del Rosario that the plan was no longer to rebuild the most affected area, They will flatten out the most affected area which consist of 200-250 houses,.
They will build it from scratch along with a four-lane highways along the length of Agus River.
