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"RP on a roll ...."
« on: June 01, 2007, 09:05:15 AM »
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"The Philippines is on a roll" President Gloria Macapagal Arroyo told reporters in Canberra, where she is on a state visit.

This is how PGMA almost boasted to the Ooozes down under upon learning that the country posted a hefty economic performance during the first quarter of 2007.

As a lesson for us in Economics 000, GDP means "Gawa dito Pinas" while GNP is "Gawa Ng Pinoy". To elucidate further, GNP is sum total of measurable economic activities within the country while GNP is the worth of all efforts of all Pinoys all over the world.

Here is how the euphoria is being reported by media;

========================================

Economy posts strongest growth in 17 years
By Rosemarie Francisco
Reuters
Last updated 04:26pm (Mla time) 05/31/2007

MANILA, Philippines -- The economy enjoyed its highest annual growth in 17 years in the first quarter, thanks to healthy consumption and an expansion in back-office services.

First-quarter gross domestic product grew 6.9 percent on an annual basis, way above expectations. It expanded a seasonally adjusted 2.5 percent from the previous quarter, the highest rate in 11 quarters, the government said on Thursday.

"The Philippines is on a roll," President Gloria Macapagal Arroyo told reporters in Canberra, where she is on a state visit.

"This is the fastest pace in almost two decades -- 9.1 percent growth in services, 5.3 percent in industry, 4.2 percent in agriculture."

Government officials said the 2007 target of 6.1 to 6.7 percent growth was well within reach and could be revised up, with the country now closer to hitting a hitherto elusive 7 percent.

More here . . . . http://business.inquirer.net/money/topstories/view_article.php?article_id=68802



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Re: "RP on a roll ...."
« Reply #1 on: June 01, 2007, 03:57:33 PM »
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