RP economy in an ideal situation — PNoy

The economy is in an “ideal situation" where inflation is moderate and the peso value is not yet worrisome, President Benigno Aquino III told reporters on Tuesday, dismissing fears that the Philippine currency is now too strong. “I think the Bangko Sentral is on top of the situation and they are doing the necessary steps to make sure the fears about the export sector or even overseas Filipino workers remittances will not be severely affected," he said. A strong peso signifies that the economy is definitely improving, according to the President, who also underscored that government is not worried about inflation. “Walang nag-o-overheat sa economy (Nothing is overheating in the economy). We are in quite an ideal situation where there is growth, inflation is moderate or controlled, and the peso’s value is not subject to very wide fluctuations," he said. Based on the situation now, Aquino said he hopes that the country will surpass its growth targets this year. The peso is now trading at 43.53-43.73:$1. — VS, GMANews.TV