Legatum Institute cites improving Philippine economy, sectors

The Philippines is getting more praises not only from foreign investors and rating agencies but also from educational institutions.  

Lately, Legatum Institute noted that the Philippines has improved its rating on the economy, entrepreneurship and opportunity, governance, health, personal freedom, and social capital compared to the previous administration.
The 2012 Prosperity Index of international think-tank Legatum Institute noted that challenges remain in the areas of safety and security and education.
However, the Propsperity Index noted that Legatum’s methodology did indicate a data lag, in which most variables were based on figures from 2011 or 2010.
Legatum said the scores are more indicative of the country’s performance compared to rankings because rankings are subject to change throughout the years as other countries are added to the list.
The index showed that the Philippines is scoring above the global average in many prosperity index variables, in particular, confidence in the government which is at 74.8% compared to the global average of 53.7%.
The report also showed that the Philippine government is continually addressing many areas of policy concern. “Our improved scores show how far the country has gone to where our nation was under the previous administration. This, despite the data lag that may yet have been reported in the analysis of some sectors,” said Legatum.