PH economy still ‘on a roll’: Palace

President Rodrigo Roa Duterte joins other leaders from the Association of Southeast Asian Nations (ASEAN) member countries during the 35th ASEAN Summit Plenary at Impact Exhibition and Convention Center in Nonthaburi, Thailand on November 2, 2019. SIMEON CELI JR./PRESIDENTIAL PHOTO

MANILA — The current administration is succeeding with its goal of improving the Philippine economy under the watch of President Rodrigo Duterte, Malacañang said on Thursday.

“The Philippine economy continues to be on a roll,” Presidential Spokesperson Salvador Panelo said in a statement.

This comes after the Philippine Statistics Authority (PSA) reported Thursday that the country’s economy grew 6.2 percent during the July to September 2019 period, after the government accelerated its spending.

The PSA noted that services posted the fastest growth with 6.9 percent, followed by industry with 5.6 percent, and agriculture, hunting, forestry, and fishing with 3.1 percent.

Citing reports, Panelo said the latest GDP “puts the Philippines ahead of India, Indonesia and even China”.

“While it is public knowledge that the hallmark of this Administration is its unmatched advocacy for peace and order, this development illustrates its competence in other fields, such as protecting the health of the nation’s economy notwithstanding inevitable setbacks it has encountered in the past,” he said.

The government is targeting a six to seven percent economic growth this year.

Panelo said the Palace commended Duterte’s economic team for maintaining the six percent or “above ‘fighting target’ for economic growth in 2019”.

He said the latest figure showed that the government is on the right track to deliver its promises to boost the economy, with an aim to lower poverty rate to 14 percent by 2022.

“Simply put, this means that we are back on track with President Rodrigo Roa Duterte’s socioeconomic goal,” Panelo said.

Duterte earlier promised to reduce poverty incidence to 14 percent by the end of his term in 2022.

The number of Filipinos living below the poverty line fell to 21 percent in the first half of 2018, compared to 27.

6 percent registered in the first half of 2015, based on the PSA data released in April.

In a separate statement, Presidential Communications Operations Office Secretary Martin Andanar said the Duterte government will continue implementing “effective” economic reforms to reach its economic growth target.

“The Duterte Administration is determined and committed in reaching our economic growth target expansion of between six percent to seven percent this year,” Andanar said in a separate statement.

“These effective economic reforms introduced by President Rodrigo Roa Duterte will ensure that the Filipino people have a comfortable life for the medium and long term,” he added.