Malacanang expects a better economic freedom rating next year following a slide in the Philippines’ 2011 index from 109th to 115th last year.
In a press briefing on Wednesday, Presidential Spokesperson Edwin Lacierda said the survey was done during the second half of 2009 to the first half of 2010 indicating it applies to the past administration.
“That is our challenge and we hope to see an improvement in the economic freedom index in 2012,†Lacierda said.
The economic freedom index is being undertaken yearly by Washington-based think tank, Heritage Foundation Inc. using 10 components namely: business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption and labor freedom.
It rates each country in every component on a scale of 0 to 100 points.
The freedom from corruption component came from data of the Transparency International, and based on the previous administration’s performance.
Lacierda noted that the Aquino administration’s thrusts are to eradicate graft and corruption and reduce poverty in the country.
The first component is business freedom. “Here we have already undertaken reforms such as reducing the time for processing registration of businesses and cutting red tape.â€
He said the reforms needed to improve the business, maintain consistent policies and investment environment and level the playing field for business are being put in place as the government pushes the public private partnership program.
“We have been doing these things and we do not need to amend the Constitution to improve the business freedom index,†Lacierda told reporters.
For the Philippines, its lower index score was 24 points for freedom from corruption and its highest index was 91 for government spending, reflecting a decision to front load a huge part of the budget for the first half of 2010 and plan for public private partnerships focused on infrastructure. - pna
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=36491.0
