4,647 guests

Duterte cited for stable PH

  • Written by Jester P. Manalastas
  • Published in Nation
  • Read: 477

A HOUSE leader said the country’s stable economy should be credited to President Rodrigo Duterte and his manner of dealing with the country’s deeply-rooted problems.

In a statement, Davao City Rep. Karlo Nograles, chairman of the House committee on appropriations, said that this only proves that President Duterte has the managerial chops to bring the Philippines to the next level.

Nograles is referring to to the 6.5-percent growth in gross domestic product (GDP) posted by the country in the second quarter of 2017, which incidentally rounded up Duterte’s first full year in office.

“No doubt about it, the 6.5 percent growth rate is solid proof that President Duterte is applying the proper approach in dealing with the country’s deeply-rooted problems,”  Nograles said.

“The latest growth in GDP has placed the Philippines ahead of other Southeast Asian nations that have released their figures for the second quarter. The country is now next to China in terms of economic growth,” he added.

The second quarter figure is an improvement from the 6.4 percent growth posted during the first quarter of the year.
 
“As we all know, the President did everything to earn the confidence of the economic sector in particular, and the public in general. Those are the bigger reasons behind the surge in our productivity as a country,” he noted.
     
The Philippines achieved the growth rate amid a depreciating peso.
 
Nograles cited the agriculture sector and Duterte’s finance team for their contributions in boosting the country’s GDP performance.
    
The solon gave credit to the agriculture officials for lifting agricultural production to an impressive 6.18 percent growth rate, and the finance team of the President for accelerating government expenditures from 4 percent to 5.6 percent in the past two quarters to fuel the record GDP.