MANILA, Philippines - President Benigno Aquino expressed optimism about the Philippine economy, saying that it continues to grow.
During the 40th anniversary celebration of the National Economic and Development Authority, Aquino said that the economy grew at an average of 6.5% in the first three quarters of 2012.
He described as "impressive" the economy’s performance in the last quarter of 2012 but declined to give details before the official release of the figures.
He lauded NEDA for its role in helping sustain economic performance, adding that times have changed. While the agency was sometimes used before to favor “less honorable intentions,” decisions now, Aquino said, are based not on politics but on careful planning.