PHL determined to achieve top one-third of global competitiveness ranking — Palace

By Jelly F. Musico

MANILA, Oct. 1 (PNA) — The administration of President Benigno Aquino III remains focused and determined to achieve the top one-third of 140 countries in the World Economic Forum (WEF) Global Competitiveness ranking, said Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. on Thursday.

”If you will notice, we started at number 87. Now we’re No. 47. Our target is top one-third which means No. 42,” Coloma said in a media briefing in Malacanang.

Coloma said the Aquino administration is confident that the Philippines will be able to hit the target in the remaining nine months

”When we achieved the 47 place, that’s 40 notches and we achieved that because we are really sticking to that goal to achieve that aspect of competitiveness,” he said.

Coloma said the Aquino administration has improved the business climate, transparency in the government, and the citizen-friendly frontline services.

”All these have been given priority attention and that’s why overall rating has improved from 87 to 47 and we will continue to improve our performance,” he said.

In the remaining months of the Aquino administration, Coloma said the government will focus more on job creation through sound management of the country’s economy.

”Job creation is the outcome of increased investments and increased investments are the result of heightened confidence in the economy which has steadily increased during the term of President Aquino,” he said.

He said more Filipinos have been employed and have experienced improvement in their quality of life as an outcome of the sound management of the economy.

”The sound management was part of the good governance and because of that we’ve got fiscal space that brought more resources and that has also resulted for bigger budget of Php3.002 trillion in 2016,” Coloma said.

He said the big part of the 2016 national budget will go to social protection, poverty reduction and human development.

Under the Aquino administration, the Philippines has recorded a five-year average economic growth rate of 6.20 percent.

”In fact, that competitiveness is part of the improved confidence reflected in the investment grade ratings and that the outcome of sound management of the economy, which is in turn anchored upon good governance,” Coloma explained. (PNA)