7.1% Economic Growth Attainable This Year -- GMA

Manila Bulletin, January 21, 2007 | Go to article overview

7.1% Economic Growth Attainable This Year -- GMA


Byline: GENALYN D. KABILING

President Arroyo said yesterday the country could attain a 7.1-percent economic growth rate this year, three years ahead of the target, as she stressed that her economic skills are better than those of her predecessor.

On the sixth anniversary of the EDSA 2 revolt, the President said the 7.1-percent economic growth rate was much higher than the 5-percent under then President Joseph Estrada in 2000.

In a round-table discussion in the Palace, the President said the economic expansion is driven by robust dollar remittances of overseas Filipino workers and foreign investments this year.

The President, who had earlier declared 2007 as "boom year" for the economy, even took a dig at former Estrada on efforts to improve the economy.

She said Estrada boasted of the 5-percent economic growth during his term in billboards all over the capital. But she said the domestic economy has grown by no less than 5 percent annually under her tenure. Mrs. Arroyo said the country needs to sustain a minimum 7-percent economic growth for the next few years to become a First World country.

"If we meet the growth target of 7 percent, that will be our key to freedom from poverty. My predecessor used to set up billboards boasting of a 5-percent growth, but now our goal is to achieve a 7-percent growth," she said.

The President, meantime, said the people are feeling the benefits of the country's economic gains, but just don't know them yet. Arroyo noted that inflation is at 4. …

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