JPE: 7.1% growth is also GMA’s achievement not just PNoy’s; but does it trickle down to the poor?

MANILA, Philippines – The country’s surprising economic growth isn’t just the achievement of the administration of President Benigno Aquino III. It is also the accomplishment of the Arroyo administration.

This is according to Senate president Juan Ponce Enrile, who said on Thursday that the 7.1-percent growth in the country’s gross domestic product in the third quarter year-on-year was not just an offshoot of the current administration’s efforts but also a result of the previous administration’s policies.

The Senate president, however, said he wasn’t sure if the effects of the outstanding growth was felt by millions of Filipinos struggling daily to earn a living.

“So, we have to give credit where credit is due and I think the previous administration began the policy and it was continued by the current administration plus their effort, so, at least now we are reaping the product of two administrations,” Enrile said.

The senator said the country should be thankful for the unexpected growth making the Philippines the best performer in Southeast Asia.

“Let us accept that figure. Let us move on and see how it will look until the end of the year and beyond. I think its true… Hindi naman siguro iimbentuhin ng administrasyon ‘yan [I don’t the administration would invent it]. All of us should accept it and thank God that we are growing that high now,” he added.

While the growth was commendable, the big question that must be answered by experts is if it trickled down to the poor, according to the senator.

“Ang tanong, ‘Yong bang growth na ‘yan ay nararamdaman ba sa ibaba? ‘Yong ang kailangan pag-aralan kung it shifts down to the lowest economic level of the social ladder,’ Enrile said.

[The question is, “Was that growth felt below? That is what is needed to be studied if it shifts down to the lowest economic level of the social ladder.]

“Kailangan tanungin natin doon sa may mga kapangyarihan. Si Enrile ‘di niya masasagot ‘yan [We need to ask those who are in power. Enrile can’t answer that] ,” he added.

If the government wants people to feel the effects of economic growth, it must continue creating jobs, spend more for infrastructure and public programs, and lessen the burden of taxpayers, according to the senator.

“We must create more jobs, spend more money so that there will be more money in the pockets of the people. And we will lessen the tax burden so that there will be more money left for consumption,” he said.

Also, Enrile urged the administration to re-examine its policies in order to bring higher level of confidence among foreign investors.

“We must be sure that our policies are not chameleons that could change anytime,” he said. –Karl John C. Reyes, InterAksyon.com