t THE PHILTPPTNE
TUESDAY I MAY 28, 2019 I ngws
Romualdez
calls for unity
to develop
economy
Reelected Leyte Rep. Martin Romual-
dez yesterday appealed to fellow legisla-
tots to "embrace &e call for unity" and
"set aside politics in the meantime" to
ensure the country's high and sustairable
economic growth perf ormance,
"The elections are over. I am appealing
for political ceasefue as this is the time for
all Filipinos, including legislators, to em-
brace the call of unity," said Romualdez,
president of Lakas-CMD and a contender
for the speakership post that will be vacat-
ed by Speaker Gloria Macapagal-Arroyo.
"We have no choice but to set aside
politics in the meantime if we are to move
the country's economy Iorwatd. Sayang
an8 momentum /ratinkung masisiralnng ng
pulitikn (Qur momentum will be wasted
if ifs just ruined by politics)" he added.
Romualdez, a'lawyer and president of
the Philippine Constitution AssociatiorL
proposed that all legislators seeking the
speakership sign a covenant declaring
their commitment to support President
Duterte's priority bills, particularly those Romualdez, attribute the healthv eco-
that are needed to sustain the economic
growth momentum.
"The groundwork for fiscal reform has
been set. President Duterte's fiscal reform
is expected to take our economy to the
next level of development" Romualdez
pointed out.
"If we achieve the administration's
target of reducing poverty incidence to L4
percentby 2022, our counky's collective
economic managers would have, in iust
two decades from 2001 to 2022, reduced l
poverty from 39 percent to L4 percent.
This would be a collective achievement
our generation can be prou4 of," he important. There is no tirne for political
added.
7
RomualdCz, a bankeq, said econoniic
experts are unanimous in their bullish
reading of Philippine economic prospects,
and some a.re expecting the total size of the
Philippine economy to double between
2018 and 2026.
Only last mon*r, the Leyte lawmaker
noted that the Japan Crcdit Rating Agency
Ltd. (fCR) decided to rcvise its investrnent
grade credit rating outlook for the Philip-
pines upward to positive from sta.ble.
The Philippines' BBB+ rating mainly
reflects the country's high and sustainable
economic growth perf ormance, according
to JCR.
Also last montlr, market intelligence
firm IHS Markit said ihe Philippines'
continuous growth of:above six percent
-ove the last seven years is likely to be
sustained.
"Strong gross domestic product gro*th
is projected to continue over the medium
tem, with the total size of the Philippine
economy expected to double between
2078 and2026," ft15 Markit's chief econo-
mist was quoted as'saying in the report.
The economic experts, according to
nomic performance of the Philifpines
to Duterte's ambitious program of high
growth and infrastructure modemization.
"We are on the right track,.but this
should not lull us to comolacencv. We
have a lot of work to do, particulaily in
enacting economic measures included
in the President's legislative agend.a,"
Romualdez said.
"To do this, the House of Represen-
tatives
. must stand united behind the
P. resident's vision for economic takeoff
and work double-time on his prior-
ity economic measur€s. Every minute is
bickerings," he added.
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