Presidential Spokesperson Edwin Lacierda:
On the strong showing of the Philippines in the Global Competitiveness Report
[September 5, 2012]
The Philippines has climbed another 10 notches to 65th out of 144 economies according to the Global Competitiveness Report 2012/2013, a yearly publication of the World Economic Forum. This marked improvement builds on last year’s impressive jump from 85th to 75th, or an advance of 20 places since the country ushered in new management two years ago.
The report lists significant improvements in key indicators, most especially for Institutions or Governance and the Macroeconomic Environment.
Notable gains were made with respect to Philippine public institutions (94th, up 23 places) and public trust in politicians (95th, up 33). This represents a steady renewal of social trust and the strengthening of our institutions as a result of the reforms the Aquino administration has pursued since 2010.
Contributing to this favorable ranking are strong scores in transparency in policy formation (up 23) and fairness in awarding of contracts (up 19). Improvements were also noted in minimizing the following: diversion of public funds (up 27), wastefulness of government spending (up 23), and irregular payments or bribes (up 11).
Judicial situations, however, continued to be rated low. Ranked 111th, the quality of judicial decisions in particular will have to be addressed by the new leadership of our courts.
Meanwhile, the Macroeconomic Environment (36th, up 18) has also sustained its gains with budget management, national savings rate, and general government debt all rating high. These significant gains in the competitiveness of the Philippines are concrete affirmations of the success of the reforms, which we continue to implement and foster.