Philippines can meet
2015 GDP growth target—NEDA
MANILA, Dec. 15 -- Government economic planners are confident that the
Philippines can achieve its target of six (6) percent to seven (7) percent
gross domestic product (GDP) growth.
This means that the expected economic growth of 5.9% for the 4th quarter of
the year should be achieved, said Rosemarie Edillon, National Economic
Development Authority (NEDA) assistant director general for policy and
Edillon said the growth will be fueled by government’s spending, the
industry, business process outsourcing (BPO) and tourism sectors in the 4th
She added that because of a stronger economy and a stable inflation rate,
household consumption will also contribute to faster economic growth during
This year, the country posted a 5.7 percent unemployment rate, the lowest in
NEDA attributes this to employment generated by the industry sector, led by
construction and manufacturing, and the services sector led by the trade
sectors and tourism-related sectors.
Edillon said in 2016, construction and manufacturing will still play an
important part for the country’s economic growth, especially now that the
government is ramping up its infrastructure spending.
“The IT-BPO will still be a growth engine,” she added. “In fact, we are
climbing up the so-called value chain. So although we ranked number one in
voiced accounts, we are moving to the non-voice sector of BPO, such as
animation, accounting processes, and medical transcriptions, which is higher
In terms of assisting these sectors, Edillon said the government is already
working on the several stages of business processes to improve the “ease of
doing business” in the country. Government also ensures that the manpower
needed by these sectors will be provided accordingly, she said.
“Let’s say, in the IT-BPO industry, they need a certain set of skills in
their field. So, the Technical Education and Skills Development Authority
(TESDA,) in partnership with the Business Process Association of the
Philippines (BPAP,) provides six (6) months of training to those who are
interested to enter the BPO industry. This program is ongoing and is
expected to expand,” said Edillon.
Edillon was guest at the recent Kapihan sa Media ng Bayan. Kapihan airs live
every Friday over Radyo ng Bayan DZRB 738 AM from 10am to 11am, with a
delayed telecast over PTV4 from 7 pm to 8pm, and IBC 13 from 10.30 to 11.30
pm. (Andrea Lynne Reposo/RDA/Media ng Bayan Operations Center)