Philippines can rise higher and faster with inclusive growth from the margins

After a credit-rating agency hailed the Philippines as a “rising star” in the global economic spectrum, Bangon Pilipinas senatorial candidate Bro. Eddie Villanueva said the country can rise higher and faster if the government were to make inclusive growth from the margins a priority.

“The country can grow so much faster and higher if the economy grows not just at the top, but from and within the bottom and the margins. Equitable growth will result in a more productive citizenry and a strong and resilient economy. This is the commitment of our platform and this will be our legislative agenda in the Senate,” Villanueva, an economist, said.

He also noted that domestic consumption and remittances from overseas contract workers can only go so far in propping up the economy.

“The thinking should be long-term. We need industrial development and create an industrial backbone based on agriculture and manufacturing. We need to translate economic growth to genuine human development,” said Villanueva.

The Bangon Pilipinas candidate, who is presenting himself as an alternative candidate to political dynasties, said his legislative agenda will also include protection of overseas Filipino workers from exploitation; an education system that not only produces skilled laborers and technicians but engineers, scientists and knowledge workers that will help in the country’s industrial development; and to the poor and marginalized to bank loans for entreprenuership.

In a recent report, Moody’s Analytics said the country can grow between 6.5 to 7 percent in the next two years and 8 percent by 2016, outperforming advanced economies ravaged by the current global economic slump and growing emerging markets.