Upside and downside of the national economy

By Satur C. Ocampo

As expected, President Aquino and his economic team wax euphoric over the official report that the national economy expanded by 6.6% in 2012, from 3.9% growth rate in 2011.

“It is a resounding affirmation of the Aquino administration’s fiscal strategy, backed as it is by our robust macroeconomic fundamentals and more importantly, (by) the principles of good governance,” trumpeted Budget Secretary Florencio Abad.