‘Aquinomics works’ – Finance chief Good governance is good economics

By Susan G. De Leon, PIA, Quezon City


QUEZON CITY, Feb. 13 (PIA) — “The robust economic performance in 2012 shows us that Aquinomics works,” says Secretary Cesar Purisima of the Department of Finance (DOF) during the Philippine Economic Briefing, Wednesday held at the Philippine International Convention Center in Pasay City.

Purisima said, Aquinomics, a coined term from the President’s surname “Aquino” and “economics” is all about the public and the private sectors working together.

“Despite the uncertainty in the global economy, this public and private partnership allowed us to grow way above our historical trend,” Purisima said.

The Finance chief cited the construction industry in which the public sector took the lead in the first and second quarters while investments from the private sector poured in the third and fourth quarters.

He added that President Aquino’s “daang matuwid (straight path)” has been the key to the economic success the country is experiencing at the moment.

“This is a clear manifestation that good governance is good economics. Good governance generates confidence that translates to more economic activity,” Purisima said.

The DOF secretary assured that good projects, programs, and policies have already been started and put in place.

“For 2013, we will focus on accelerating their implementation to ensure that we sustain the growth momentum. We are committed to strengthen our fiscal position, intensify our investments in infrastructure and in our people, and enhance our business environment. With the help of the private sector, we hope to do as well in 2013,” Purisima said.

Aquino’s economic team and the Bangko Sentral ng Pilipinas (BSP) conducted the Philippine Economic Briefing to update the country on the gains under the Aquino administration and its policies and programs for the remaining four years.

The economic team is comprised of Department of Finance (DoF) Secretary Cesar Purisima, National Economic and Development Authority (Neda) Secretary Arsenio Balisacan, Department of Budget and Management (DBM) Secretary Florencio Abad, Department of Trade and Industry (DTI) Secretary Gregory Domingo, Department of Public Works and Highways (DPWH) Secretary Rogelio Singson, and Department of Tourism (DoT) Secretary Ramon Jimenez Jr.

The briefing was anchored on the theme, “Good Governance is Good Economics: Achieving Investment Grade” was also attended by industry and business leaders.#