MANILA, Philippines - The government is prepared to sustain the country’s economic growth which reached a record 7.1 percent in the third quarter, President Aquino told a gathering of his party-mates in Cebu City Friday night.
He said various infrastructure projects are expected to fuel further growth in the months or years ahead even as consumer spending and remittances from overseas Filipino workers are expected to significantly contribute to the growth momentum.
“Now, with the recent strength of our economy, we’re hoping to not only to maintain that but to continue it,” Aquino told Liberal Party members in Mandaue City in Cebu before joining thousands of Catholics in a thanksgiving Mass for the canonization of St. Pedro Calungsod in Cebu City.
He cautioned, however, that there are challenges ahead, including a shaky world economy. “The challenges before us will not be met if there is no unity of purpose,” he added.
The Philippine economy expanded 7.1 percent in the third quarter, the fastest among Southeast Asian nations and just a bit slower than China’s 7.4 percent.