PH Economy: What are we doing right?

Rappler.com

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Rappler speaks with NEDA Director General Arsenio Balisacan on the recent GDP surprise.

MANILA, Philippines – Today, Rappler speaks with Arsenio Balisacan, the Director General of the National Economic and Development Authority.

Balisacan is also the Secretary of Socioeconomic Planning under the Aquino administration.

On Thursday, May 30, the National Statistical Coordination Board posted a GDP growth of 7.8% for the first quarter of 2013, the biggest rise in Philippine economy since 2010. (READ: PH surprises with 7.8% growth in Q1)

Defying expectations, the Philippines overtakes China, Thailand, Indonesia, Malaysia and Vietnam.

Balisacan predicts, “If we continue growing at this stage in the next 10 or 15 years, we will be in a situation where Thailand is.”

How did the Philippines grow by 7.8% in the first 3 months of the year? What are we doing right?

Will this economic win prove to be inclusive? How long will growth trickle down to the basic sectors and alleviate poverty? (READ: Who felt PH’s 7.8% GDP surprise?)

Balisacan says job generation will be key to bringing growth to the masses. At the NSCB’s press briefing Thursday, Balisacan emphasized, “We are really focusing on getting the economy to generate more jobs, especially high quality jobs.” How will the government do this?

Watch the interview below.

– Rappler.com

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