Malacañang said on Wednesday that the government will work for the “continuous improvement” of the country’s economic freedom following the slightly higher score of the Philippines in the Index of Economic Freedom of The Heritage Foundation.
Palace Spokesman Edwin Lacierda said in a news briefing that Malacañang is pleased with the slight improvement in the country’s economic freedom score, which is now at 57.1, from 56 in 2008.
“Certainly we are happy but we also would like to continue to improve not so much our standing, not so much for the consumption of survey organizations, but for our own consumption,” Lacierda said.
The Index of Economic Freedom evaluates different subcomponents of economic freedom, including levels of business, trade, fiscal, monetary and labor freedom; government spending; and property rights.
The Heritage Foundation said the Philippine economy was “mostly unfree” and there remain “institutional challenges that will require deeper commitment to reform” among them, in the judiciary.
Citing the Foundation’s finding that there is an “inefficient judiciary” in the country, Lacierda said President Aquino had appointed Chief Justice Maria Lourdes Sereno “to implement the much-needed reforms in the judiciary.”
“Hopefully, we will see a continuous improvement in our standing in the Heritage Foundation report,” he said.
***
Source: Mia M. Gonzales, Business Mirror. (19 September 2012)
Comment here