According to Department of Finance Secretary Cesar V. Purisima, the Aquino administration is striving to improve and sustain the high level of economic growth seen during the first half of this year. He added that the government plans to improve the infrastructure, as well as investments in agriculture, tourism, and business process outsourcing (BPO).
Purisima also said in a statement they will strive for innovative processes to align goals, reduce the cost of doing business in the country, including the development of new exports.
Moreover, he said amidst the economic uncertainty in the US and Eurozone and with the global growth slowing down, the country’s economy grew from January to June.
The Finance Secretary noted that the 5.9 percent growth for Q2 2012 puts the country in a favourable position and helped yield a 6.1 percent growth for the first half of this year, which is far better compared to the 4.7 average GDP growth of the country for the past several years.
Other industries such as construction grew 9.2 percent, which is fuelled by public construction. Overall exports grew 8.3 percent, where goods exports increased 7.9 percent, and services exports increased by 9.9 percent.