World Bank Describes Philippines as next Asian 'miracle'

 By: Rahel U

World Bank president Jim Yong Kim on Tuesday said that Philippines is a global model for fighting  corruption and  described it the next "Asian miracle".  Kim has made his two-day visit to the Philippines and had a forum meeting with the Aquino at the presidential palace.

 Seeing Aquino’ predecessor and his sitting three senators were charged with corruption, Kim praised Aquino for his effort in building transparency in his government while staying  focus on its broad economic growth.

"Among the most important things you can do is tackle corruption and... that is one of that things that the (Aquino) government is doing, frankly better than any government in the world," Kim said.

Kim said the Philippines whose one quarter  of its people (almost 100 million in numbers), had huge potential to achieve economic development.

He said the World Bank assumed  the Philippines' economy  to  grow by 6.6 percent this year, while keeping its status as one of the fastest growing in Asia. The Philippine economic increased by 7.2 last year where China was the leading.

Kim's strong endorsement was showing his support to the president whose public support record dropping low because of deep controversy over a budget stimulus programme.

But Aquino defended the stimulus programme and  has claimed the two issues are separate. He also stressed that his administration is  mainly free of corruption issues. He said on Monday he would appeal to the Supreme Court to reexamine its ruling.

"We had to act. We knew that, if we were to bring about inclusive growth sooner rather than later, we needed to be proactive and pump-prime the economy," Aquino  said in a speech alongside Kim on Tuesday.

For the record,  Philippines was last year ranked the 94th most corrupt of 175 countries by anti-graft group Transparency International.

Photo: credit to the owner

Source: manilatimes