Diamond rebound powers 2013 economic growth
Friday, April 04, 2014
Last year’s increase in the rate of growth reversed a three year streak in which the economy grew at a slowing rate.
In 2010, the economy grew by 8.6 percent but slowed down to 6.2 percent the next year before further declining to 4.3 percent in 2012.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...