“Bright prospects” for Phl in ASEAN integration

EDITORIAL

The Philippines will be in a better position to hurdle challenges and full implementation of the Association of Southeast Asian Nations (ASEAN) integration next year because of institutionalized reforms and its good showing in economic resiliency.

This according to Budget Secretary Florencio Abad who was guest of honor and speaker during Annual National Convention of the Association of Government Accountants of the Philippines (AGAP) recently in Camp John Hay.

He said based on assessments of experts who attended the World Economic Forum hosted by the Philippines in Manila, the Philippines had been adjudged most improved ASEAN country for economic policies that will counter implementation of zero tariffon goods and services, except for some agricultural crops.

“We will be able to hurdle the stiff competition provided by goods and services of  member countries because of our economic resilience that allowed us to become one of the countries with fast improving economies,” Abad said.

He said the Philippine economy was also adjudged one of fastest growing in the world, and second to economic growth of China, thus, doubts on ability of the country to compete in the international market should be cast aside.

Abad claimed in terms of global competitiveness, the Philippines overtook at least 33 countries, mostly in the Asia-Pacific region, in competitiveness among nations which illustrates readiness of the country to be at par with global competitive standards.

The DBM official said adherence of government leaders to good governance hadworked wonders for the Philippines, especially in socio-economic reforms that helped sustain economic growth the past years.

 According to Abad, implementation of institutionalized strategies and reforms on the country’s economy will greatly help in providing better economic atmosphere and growth not only for remaining years of the Aquino administration but also for the next administration.

He belied allegations by some lawmakers that the country’s economy will suffer a setback because of lesser spending in the coming years, saying previous robust spending of the national government in terms of infrastructure, health services, livelihood among others contributed greatly in boosting the country’s economy.

“We will not buckle down to any outside pressure because we will sustain the growth of our economy which we were able to achieve through our commitment to good and transparent governance,” Abad said.

He appealed to critics of the Aquino administration to give a chance for the administration to fulfill its commitment of leading the country and its people to follow the “right path”since it will be the people who will be beneficiaries of economic growth with reduction of poverty and improvement of their living condition.

Abad’s position on the matter is understandable, considering he is at the top in holding the government’s purse strings, according observers during the convention. But then, if surveys are to be believed, the masses are still mired in poverty. For them, no amount of government praising itself on the country’s so-called economic growth is believable, unless they themselves feel it. Prices goods and services are still up, even as government is still mired in allegations of corruption.  For political observers, government should walk the talk if it is to be believed like on economic growth and corruption.