A turnover of 250 billion U.S. dollars, an increase of 7.8% in the first quarter of 2013. Better than the Chinese data. Growth in investments of foreign and multinational companies. Fr. Giulio Mariani, "Aquino has raised the confidence abroad, thanks to the fight against corruption. But we need more infrastructure and to battle unemployment."

Manila (AsiaNews) - An economy of 250 billion dollars, which recorded a growth of 7.8% in the first quarter of 2013, surpassing China and other emerging countries of Asia. The economic indices are further boosted by an increasingly widespread prosperity which today, unlike in the past, is no longer in the hands of a small circle of families and corrupt financial elites, but also extends to an ever more visible middle class. The Philippines confirms a positive trend as an increasingly emerging reality in Asia and the world, thanks to the policies promoted by President Benigno Aquino III, capable of clamping down on incompetence and theft of the older generation of leaders.

Confirming the growing development - especially in the major centers including Manila - the entry of major international retail chains including the Spanish Zara, Gap, Forever 21, Starbucks, and even the car giant Rolls Royce. Large luxury apartments are springing up in every corner of the capital, surrounded by shops and shopping centers, offices and call centers of financial centers which should ensure gains amounting to 25 billion by 2016.

The root cause of the economic growth in recent years is the policies promoted by President Aquino, who was elected in 2010 with a campaign devoted to the fight against corruption and widespread poverty. It has taken hold in a context in itself full of potential compared to other countries in South-East Asia, for the common use of the English language, the relative freedom of the press and established democratic tradition despite pockets of violence and internal resistance

Fr. Giulio Mariani is a priest of the Pontifical Institute for Foreign Missions (PIME) in the Philippines who has a deep knowledge of the country.  He confirms the economic boom of recent years, including "the visible results, thanks to the strong line enacted by the president." He has made "many trips abroad," said the priest, and has earned the "trust of other nations, because there is no longer that endemic corruption and investment is growing."

Contacted by AsiaNews, the missionary adds that "according to some THE growth is fictitious" but these are judgments dictated by "envy". "The process of internalization is obvious - continues Fr. Mariani - and the English language is essential for development. We can not say that it is of benefit to everyone, but the government's program also tries to run in support of the poorer sections of the population. It is still early days to be sure, but things are heading in the right direction and is there is palpable widespread trust in the future". For this, he concludes, there is a need to "strengthen the infrastructure" so that more and more people have an incentive to "visit the Philippines and to admire its natural beauty."

However there was some unresolved issues, which may encourage even more development if you think that Indonesia attracts foreign investment to the tune of 20 billion dollars, compared with a Manila's paltry 2.8, Myanmar just over 2.2, until recently isolated to the outside world. And even in terms of tourism there is scope for strong growth given that Thailand in 2012 attracted 22 million people, compared to 4.3 in the Philippines which also can boast uncommon wonders in landscaping. Finally, the problem of poverty remains to be resolved - 28% of the population live below the minimum threshold of survival - the strengthening of infrastructure (airports, roads, hotels) and fight against unemployment, which registered an increase in April (from 6.9% to 7.5%) compared with the same period in the past year. (DS)

 

• philippines
• economy
• growth
• investment
• aquibo
• poverty