#TalkThursday: State of the Philippine economy


MANILA, Philippines – In this week’s edition of #TalkThursday, Rappler CEO Maria Ressa talks to Finance secretary Cesar V. Purisima on the state of Philippine economy.

President Benigno Aquino III appointed Purisima Secretary of Finance in June, 2010. He was also the Finance Secretary during the time of Gloria Macapagal-Arroyo but resigned at the height of the former president’s ‘Hello Garci’ scandal in 2005.

Under the Aquino administration, the economy slowed down as it navigated global economic and geopolitical woes. Finance Secretary Cesar Purisima, talks about how the government’s economic team plans to steer the economy through these challenges up to 2016.

Purisima also talks about the upcoming Asian Development Bank meeting and how it will be sort of a “coming out party” for the Philippines. After all, the Philippines is pulling out all the stops to showcase the country’s economic gains, and the business and tourism opportunities, as well as foster goodwill among the key decision makers in Asia.

On May 2 to 5 in PICC, the Philippines will host the ADB event for the first time in 22 years. Over 4,000 officials and delegates are expected.

This grand event comes on the heels of concerns about how inclusive growth can be achieved. A recent Pulse survey showed that Filipinos are less satisfied with the government’s handling of jobs and prices of goods–despite official data that shows improvements. There are also issues about fiscal health, given the lower-than-target tax and customs collections despite an ongoing name-and-shame campaign. Additional revenues from legislative reforms on sin taxes remain uncertain. 

All these, plus the dynamics among the Aquino Cabinet members. – Rappler.com

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