Cesar V. Purisima [via The Manila Bulletin]
Secretary of Finance Cesar V. Purisima received his fourth recognition as Finance Minister of the Year, this time from The Banker, the publisher of business and economic newspaper Financial Times.
Purisima got his first three awards from the Emerging Markets in 2011 and 2013 and Euromoney in 2012.
The Banker said the award recognizes Purisima’s role in improving the Philippines’ fiscal efficiency, instituting reforms against corruption, and elevating the country in the eyes of international investors.
The award from The Banker marks Purisima’s fourth straight year in receiving Finance Minister of the Year honors from different award giving bodies, a first in the history of the Department of Finance (DOF) and in the Philippines.
Purisima emphasized his fourth award naming him Finance Minister of the Year is a testament to President Benigno S. Aquino’s guiding principle that good governance is good economics.
Purisima also thanked the President for his leadership and commitment to accountability and transparency, as well as his colleagues in the cabinet and fellow members of the cabinet’s Economic Development Cluster.
Last week, the government announced that the country’s economy grew 7.2 percent in 2013, maintaining an average of 6.3 percent growth since June, 2010 and remains to be one of the fastest-growing countries in Asia.
While Philippines continues to improve its economic outlook with record-high gross domestic product (GDP) growth rates, investment grade ratings from major credit rating agencies, and strong macroeconomic fundamentals, Purisima stressed the current administration’s term is only half-done.
“Our goals for 2014 include improving the revenue to GDP through the ongoing reforms in the Bureau of Customs, stimulating infrastructure development, preparing the Philippines to benefit from the ASEAN Economic Integration in 2015, and strengthening the Philippines’ resilience against disasters in light of the recent devastation brought by Typhoon Yolanda,” Purisima said.
The DOF chief noted that the Philippines has work ahead of them to ensure growth is both sustainable and inclusive, yet optimistic at what the country can achieve in the coming years.
The Banker is the world’s premier banking and finance resource providing data and analysis for the sector with its unique database of more than 4,000 banks.
The Banker has been providing global financial intelligence since 1926 and has built a reputation for objective and incisive reporting on major events, which combines in-depth regional and country coverage with reports on capital markets, structured finance, risk management, and more.
(Story courtesy of the Manila Bulletin)