NEDA downplays impact of shooting incident at Resorts World on economy

The National Economic and Development Authority (NEDA) on Friday downplayed the potential negative impact of shooting incident at Resorts World Manila on the economy, saying it’s an isolated case.

“It has been explained that it’s just an isolated criminal case of robbery,” Socioeconomic Planning Secretary and NEDA Director General Ernesto Pernia told reporters in a press briefing during the launch of the Philippine Development Plan (PDP).

In the same briefing NEDA Undersecretary Adoracion Navarro said she’s optimistic that the economic fundamentals have not changed because of the incident.

“Let’s observe how investors will react … I’m quite optimistic the fundamentals do not change. And besides it has been explained as a simple case of attempted robbery,” Navarro said.

A lone gunman burst into the casino-resort complex around midnight, shooting with an automatic weapon and setting on fire gaming tables. He shot at doorknobs and attempted to stead P113 million of casino chips. He was wounded in a shootout with security guards, prompting him to hide in a hotel room where he supposedly shot himself.

Philippine National Police Chief Director General Ronald dela Rosa said there was no indication that the incident at Resorts World Manila was a terror attack.

Pernia noted the government is keeping its 2017 and 2018 gross domestic product growth targets.

“We are keeping our growth targets of 6.5 percent to 7.5 percent this year and 7 percent to 8 percent next year,” he said.

The country’s chief economist noted the government is also winning in the ongoing conflict in Marawi City, the capital of Lanao del Sur, where government troops have been fighting against Islamist militants since May 23.

“We are quite optimistic this is a short-lived aberration from normal,” he said.

Pernia noted the Development Budget Coordination Committee will start reviewing the government’s economic programs next week. — VDS, GMA News