Palace: Filipinos can feel economic gains

by Willard Cheng, ABS-CBN News

Posted at Nov 28 2012 03:04 PM | Updated as of Nov 29 2012 03:08 AM

MANILA, Philippines -  The Palace believes that the recent gains in the economy are being felt by Filipinos.

Presidential spokesperson Edwin Lacierda cited the jobs that are being created with increased public and private construction and activities in the manufacturing and services sector.

The Palace is pleased with the 7.1% GDP growth in the third quarter, saying it has exceeded expectations.

"Itong kagandahan sa ekonomiya hindi lang ito nararamdaman 'nung nasa stock exchange. Kaya nga tinatawag nating inclusive growth and these are hard or visible manifestations of growth," Lacierda said.

"You see, for instance, kung maraming construction 'yan-like (what) they are saying, Fort Bonifacio is turning out to be a 'crane city', ang daming mga cranes doon-so kita mo rito na talagang marami ngang makikinabang dito sa ating ekonomiya."

The Palace added that in the last nine months, the government has distributed P20 billion for the conditional cash transfer program with three million family beneficiaries enrolled.

Lacierda said the government has also expanded health care coverage and has funded "improvements in hospitals and health centers all over the country."