Monday, March 12, 2012

News Update PHL growth targets difficult to achieve – Social Watch

The impact of typhoons, earthquakes, climate change and other external factors make it difficult for the Philippines to reach its economic growth targets of 5 percent to 6 percent this year and 6 percent to 7 percent next year, a citizen’s group said in a briefing Monday.
Prof. Leonor Briones, lead convenor of Social Watch Philippines and former Treasury chief, said the country's growth prospects face these problems.
"We're still recovering from these disasters," she said.
Social Watch is an international network of citizens’ organizations struggling to eradicate poverty and the causes of poverty, to ensure an equitable distribution of wealth and the realization of human rights, according to a note on its website.
The economy grew 3.7 percent last year on government underspending, lower global demand and natural disasters. — VS,