RP back as Asia’s laggard with dismal 3.2% Q3 growth
11/29/2011Growth slowed to a dismal 3.2 percent in the third quarter that returned the Philippines to its familar role as a laggard in Southeast Asia, having one of the worst economic performances in the region for the quarter and all the result of poor management of the budget.
Economists saw the minimal expansion, the third consecutive quarter under Aquino that growth had skidded, as resulting from underspending or tighter controls imposed by the administration on the release of public funds that acted as a drag on the economy.
The economic sector that slowed the most was the construction industry which University of the Philippines (UP) economist Benjamin Diokno said contracted due to the failure of the Aquino administration to implement projects which were authorized and approved by Congress..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20111129hed6.html
1 comment
di ko maintindihan kung bakit sobrang nagtitipid itong si "pangulong" a_noy y hocus pcos. saan ba niya inilalaan ang budget? o ano ang pakay niya sa underspending na polisiya niya?
"The economic sector that slowed the most was the construction industry which University of the Philippines (UP) economist Benjamin Diokno said contracted due to the failure of the Aquino administration to implement projects which were authorized and approved by Congress.
"“Hence, the slowing growth is self-inflicted,” according to Diokno as opposed to the claim of the Palace that the slowing growth was a reaction from the European debt crisis and the still weak US economy."
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