7% yearly growth forecast

7% yearly growth forecast

by UA&P News Desk on January 31, 2011 - 4:09 pm

from The Manila Times, by Dante “Klink” Ang 2nd, Executive Editor

Investments yardstick of ‘Prophet of Boom’

MOST forecasters see the Philippine economy slowing down this year relative to 2010 when the country held national elections—but not Dr. Bernardo Villegas, a co-founder and trustee of the University of Asia and the Pacific (UA&P).

The economy as measured by the gross domestic product (GDP) would grow at least 7 percent in 2011 and in the years to follow, said Villegas, who has been called the “Prophet of Boom” for his rosy economic forecasts in the past. GDP, a key economic indicator, is the total cost of all final goods and services produced in the country in a year.
Earlier this year, the World Bank predicted that the Philippine economy would “stabilize” and settle down to “a medium 5 [percent] to 5.4 percent in 2011 and 2012 grounded in remittance-supported spending and further infrastructure development.”

Read full story on ManilaTimes.net »

Aquino’s hands-off style suited for growth

from The Manila Times, by Dante “Klink” Ang 2nd, Executive Editor

THE hands-off leadership style of President Beningo “Noynoy” Aquino 3rd was appropriate for the economic situation today, and his bachelor lifestyle was irrelevant to rapid growth, one of the country’s leading economists said.

Dr. Bernardo Villegas said during a media briefing on Friday that the Philippines was to grow at least 7 percent in 2011 and in the next five to six years, and that one of the contributing factors was the capable economic team of the President. Villegas, a Harvard-educated economist, is a co-founder and trustee of the University of Asia and the Pacific (UA&P).

“I don’t think he’s hands on,” Villegas told journalists, referring to President Aquino. But that seemed to be the leadership style the economic situation warrants, he added.

President Aquino has been criticized for appearing lazy as evidenced by his short working hours and infrequent convening of Cabinet meetings, as well as other official gatherings like the Legislative Executive Development Advisory Council (LEDAC).

Read full story on ManilaTimes.net »

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