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NEWS UPDATES Asean Affairs        17  May 2011

Philippines lifts 2010 economic growth figure

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The Philippines has upgraded its record economic growth of last year to 7.6 percent from the 7.3 percent originally reported, President Benigno Aquino said on Tuesday.

Economic managers had re-analysed the data and concluded that their computation had been off by 0.3 percentage points, the Filipino leader said.

"I would like to break the news to you that Finance Secretary Cesar Purisima informed me yesterday that they had completed the computation of the economic growth last year," Mr. Aquino told a government forum.

'He said we made a mistake in saying the economy grew 7.3 (percent). The correct figure was a 7.6 (percent) increase.' The initial growth figure of 7.3 percent was already the fastest expansion for the Philippine economy since democracy was restored to the country in 1986.

The government said when releasing the initial data in January that one main reason for the record performance - coming off growth of 0.9 percent in 2009 - was the rest of the world recovering from the global financial crisis.

It also cited renewed investor confidence in the government after Mr. Aquino won a landslide election last year on the back of a campaign promise to fight widespread corruption.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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