Three experts to discuss economic issues in briefing today

THREE economic experts will share their views on significant economic issues in a midyear economic briefing at 1 p.m. today at the Marco Polo Plaza.

Professors from the University of Asia and the Pacific, Dr. Bernardo Villegas and Dr. Stan Padojinog, and Fernando Fajardo, executive director of the Cebu Business Club, are the speakers of the briefing organized by the alumni association (Cebu Chapter) of the University Of Asia and the Pacific- Strategic Business Economic Program (UAP-SBEP Cebu chapter).

According to the UAP organizers in a statement, Villegas, founder of the director of the Center for Research and Communication and economics adviser to five Philippine presidents, will explain the reasons of newfound dynamism of the country’s economy, which showed it’s strength in the first semester of the year when the gross domestic product (GDP) posted a higher growth of more than 5 percent compared to last year’s 3.7 percent.

Economic experts see the possibility of the country achieving a growth rate of 7 percent to 9 percent in the coming years, which will put the Philippines at par with its fast-paced neighbors like Indonesia, Vietnam, China and India.

Villegas will also explain why he supports Hong Kong Shanghai Bank’s claim that by 2050, the Philippines will be the 16th largest economy in the world.

He will also discuss about how Cebu-based industries can expand their reach to the ASEAN Free Trade Area (AFTA) and prospects for recovery of the troubled economies in Europe, North America and Japan.

Dr. Stan Padojinog, dean of the UAP School of Management, will give an update on the real estate industry.

Fajardo, who is also a professor of the University of San Carlos, will discuss about Region VII and Cebu’s perspective of the Philippine Economic Development.