Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 23 October 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << October 2019 >> 
S M T W T F S
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2007/09/26

Our economy has reached new level of maturity - PGMA

by Rutchie Cabahug-Aguhob

Cagayan de Oro City (26 September) -- "We celebrate St. Michael's Feastday with the good news that our economy has reached a new level of maturity and stability with some of the strongest macroeconomic fundamentals in 20 years."

This was the greetings of Pres. Gloria Macapagal-Arroyo to the participants of the Business Forum recently held in Iligan City, which was among the activities lined up in observance of the city fiesta in honor of St. Michael Archangel on Sept. 29, this year.

"We have aimed high and have met the challenge. Six years ago, no one thought we could get more revenues, cut down on tax cheats, strengthen the peso and move the stock market," the President said.

"And no one thought we could bring our budget into balance, pre-pay our debts and raise employment, but we have," she stressed.

In her speech, the President also said that today, our country is on a path to permanent economic growth and stability as investments are pouring in.

"The peso is strong, our stock market has reached historic heights and we have created six million jobs in six years. And the world is taking notice: the Philippines is one of the best values in Asia for domestic and foreign investors," she gladly announced.

Just yesterday, Secretary Margarito B. Teves of the Dept. of Finance (DOF) said the country's improved performance is expected to remain on track and economic growth will likely stay well-supported by household spending, business investment and government spending, despite the prospect of weaker exports.

Meanwhile he said the government had a budget surplus of Php13.9 billion in August, this year, the second surplus in a row and this is attributed to the improved collections by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC).

The Finance Secretary also said he is confident the budget deficit would come in within the targeted Php63 billion for the year and attain a balanced budget by 2008. (PIA 10) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»Let's help push a bustling economy in Mindanao - Rep. Garcia
»Business sector supports gov't programs to pump-prime economy
»Davao Sur town, a city soon
»P2 billion needed to finish Talaingod-Bukidnon road
»Search for next Deans of UP Mindanao colleges begins
»Coming up soon: All-Filipino rice beverage
»Intensity 2 earthquake shakes Leyte
»Strong earthquake triggers tsunami, Philvolcs says
»Commentary: Penalties for erring high officials show Palace seriousness in fight vs graft
»24 hours of rain trigger landslides - Pag-asa
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines