The robust
growth in the Philippines is widely attributed to President Benigno Aquino III's
economic reforms,
favourable fiscal management and strict anti-corruption campaign which earned the country several
rating upgrades by major credit
rating agencies to investment grade last year and kicked off a remarkable inflow of foreign direct investment.
A member of the Progressive People's Party (PPP)
economic team, Mahama Bawa also did not find
growth figures in Seth Terkper's review
favourable, singling out the agriculture, unemployment and high interest
rate figures as major setbacks.