Rating Aquino govt’s economic performance

President Aquino trumpeted the economic gains of the Philippines in the past two years he is at the country’s helm during his 3rd State of the Nation Address (Sona) on July 23. Constantly referred to as “Aquinomics,” his administration’s good governance-led economic agenda has led the country into wild economic growth swings — from 7.3% in 2010 to 3.9% in his first full year in 2011, to a surprisingly high 6.4% in the first quarter of 2012, making it the second fastest growing economy in Asia next to China. He repeated efforts to push tourism, infrastructure, agriculture as pillars of his “Aquinomics.” Overall, events under his control and beyond have made their impact on his economic performance. Most of his big-ticket infrastructure projects are delayed, in effect adding a challenge in meeting tourism targets. The local economy remains highly dependent on remittance-led consumer spending, and missed recent waves on foreign investment opportunities in auto manufacturing. President Aquino steps down in 2016.

Read more on Rappler here, here and here.

Watch President Aquino deliver his 3rd Sona speech.