Failed elections seen a bane for economy
Posted by akosistella on March 23, 2010
A FAILURE of elections risks running the Philippine economy aground, according to the country’s prophet of boom.
If the May national polls failed, “GDP [growth] in the second half may hit zero,” Bernardo Villegas, senior economist at the University of Asia and the Pacific (UA&P), told reporters.
This, he said, could result in a full-year expansion of only 2.5 percent, or below the low end of the government’s target range of 2.6 percent to 3.6 percent.
An indicator of economic performance, gross domestic product (GDP) is the amount of final goods and services produced in a country.
Click Manila Times.
No failure of polls, assures Comelec
Comelec Commissioner Gregorio Larrazabal, at the same time, agreed with election lawyer Romulo Macalintal that politicians who predict that the polls less than two months away will not happen must be cited in contempt.
Larrazabal said that people must realize the “serious implications” to the public of failure of election.
“It’s so cheap to use the phrase ‘failure of elections’ now. Every person suddenly becomes an expert and says failure of elections. Do they actually realize what they are talking about and what it means to have failure of elections?” he asked.
Click Manila Times