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PIA Press Release

Commentary: RP economy has never been better

Tacloban City (September 25) -- Amidst the numerous storms that her administration had to go through because of political hullabaloo, President Arroyo has made a legacy which the Filipino people will always remember -- under her, the country's economy has never been better.

Surviving two impeachment cases, a number of unanswered calls for people power, President Arroyo, through her sheer determination backed by the people's willingness to sacrifice in order to implement fiscal reforms, pushed the country's towards economic take off.

Better still, despite her being branded as the least popular (debatable as it is) of the country's presidents, the fortunes of Filipinos probably has never been better under her watch as the Philippines' per capita income is estimated to reach $1,400 this year.

Crucial indicators speak well of the country's rosy overall economic health and no body can deny and argue that there is no other way for the country but up, as long as, with the help of every one, it will be able to sustain the tough economic reforms the President has initiated.

Inspired by the confidence mounting across various sectors both her and abroad, President Arroyo is confident that together the Filipinos will be able to sustain the trend as they keep up the spirit of unity, enterprise and faith in themselves.

The rise in incomes, along with stable prices and low inflation rates, is a sure sign that the people from all walks of life are getting their fair share of the economic gains that are being propelled by more investments, more job generation, better inftrastructure, good governance and more effective delivery of basic social services.

The peso's continuing strength, which now hovers around the P 50.00 to $ 1.00 territory, has made our country's foreign-denominated debts much cheaper in peso terms.

All these are indications that the national economy is upbeat, bullish, and rearing to soar high.

What left for every Filipino to do, is to beef up these gains with sustained unity and resolve to continue pushing economic growth, upholding the rule of law and go on with the united clamor for the overhaul of the degenerated political system. (PIA 8) [top]

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