Tuesday, 31 January 2012

Economy could grow 7.18%

Business Mirror
THE National Statistical Coordination Board, in an unexpected but welcome plug for the education and health sectors, on Monday said the government should spend more for additional classrooms and additional teachers this year if it wanted to exceed the 5-percent to 6-percent growth estimate for 2012 to 7.18 percent.

Based on NSCB estimates, additional spending for education and health, meaning over and above their approved budgets for 2012, would increase the country’s gross domestic product (GDP) by 0.01 to as much as 1.18 percentage points this year.

This means that if the government’s growth forecast for this year is between 5 percent and 6 percent, the economy can grow by around 5.01 percent to as high as 7.18 percent.

Read more: http://www.businessmirror.com.ph/home/top-news/22633-economy-could-grow-718

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