Pinoys assured on PH economic state

Harry Roque Harry Roque

MALACANANG yesterday assured the public that “everything is good” and that there is no cause for alarm even after the country’s economic growth fell below targets.

Presidential Spokesperson Harry Roque admitted that they could not control the price of oil on the world market, which he said affected the growth of the country’s gross domestic product (GDP).

“Everything is good naman po, siguro hindi makakamit ang mga targets na nais nating makamit, pero iyong mga targets naman po natin ay sadyang napakatataas na mga targets,” Roque said.

“Tayo po ay hindi nagpo-produce ng sapat na langis para sa ating mga pangangailangan. Nang tumaas po iyan, talagang napakalaki ng epekto sa atin,” he said.

Data from the Philippine Statistics Authority (PSA) showed that GDP growth in the second quarter of 2018 was at 6 percent, which was below the government’s target of 7-8 percent.

But Roque claimed the recorded 6 percent GDP growth in the second quarter was still “very high.”

“Pero ganunpaman, tingnan n’yo po, maski tayo ay halos completely dependent sa oil imports nang halos doble ang presyo ng krudo ay lumago pa rin ng 6 percent ang ating ekonomiya,” Roque said.

“Six percent po ay napakataas pa rin; wala pong dapat ikabahala,” he stressed.

Socioeconomic Planning Secretary Ernesto Pernia attributed the disappointing economic growth to the closure of Boracay as well regulations in the mining industry.

Malacañang, however, is not sorry for the Duterte administration’s environmental policies.