Malacañang Sunday expressed confidence that the country’s economy will be stronger and more vibrant in 2010 due to the economic reforms initiated by President Gloria Macapagal-Arroyo and the expanding global economic recovery, a government press release said.

In a radio interview over DZRB Radyo ng Bayan, Presidential Spokesperson for Economic Affairs Professor Gary Olivar said the economic reforms set by President Arroyo can be continued by her successor.

He projected that the country’s trade with its major partners will continue to increase including the rise in domestic consumption and demand which will further keep the economy afloat next year, the press release said.

The National Economic and Development Authority has earlier projected that gross domestic product will grow by 2.6 to 3.6 percent next year.

Olivar said the country’s strong points remain in the remittances brought by the overseas Filipino workers, the outsourcing and off-shoring sector and investments from the private sector.

NEDA earlier said growth drivers for the country this year include trade, tourism and business process outsourcing, construction, mining and quarrying, government services and air transportation.

For next year, NEDA projected that other drivers of growth for the country will be from the manufacturing, finance, transportation, communication and storage, and agriculture sectors.

Despite the country’s slow GDP growth as compared to previous years, the Philippines joined in the handful of Asian neighboring countries that experienced positive growth in the midst of global economic crisis, the Philippine News Agency press release further said.*

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