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PIA Press Release
2008/02/13

Measures up to sustain RP's economic growth

by T. Villavert

Iloilo City (13 February) -- The government will implement action plans to thwart the threat of a slowdown of the world economy on the local economy, aimed to sustain the country's economic growth.

During the National Economic and Development Authority-Cabinet Group meeting, President Gloria Macapagal-Arroyo said that the government is focused on the expected effects of the global economic slowdown and cited three action plans that the government must implement immediately.

These plans are: 1) the government must accelerate spending on infrastructure and pro-poor projects to fuel the engine of economic growth, create and investor-attractive environment and enhance agricultural production; 2) the government will increase investments on people by boosting support for education and training, especially skills urgently demanded by industries here and abroad in such sectors as construction and the business process outsourcing. The concerns of overseas Filipino workers must also be addressed to ensure that they enjoy the full protection of their welfare; and 3) the imperative need to address the problems posed by red tape and corruption.

It will be recalled that President Arroyo, in previous week, ordered a surge in infrastructure spending- P200 billion from the national government, government corporations and local governments; three thousand kilometers of roads and 10,000 school buildings. These, she said, will serve as a firewall against the world volatility and as a springboard for further growth.

On red tape and corruption, the President ordered Trade Secretary Peter Favila and Budget Secretary Rolando Andaya to take immediate steps to address the twin evils of red tape and corruption in the bureaucracy. Favila heads the Anti-Red Tape Task Force, while Andaya leads the Procurement Transparency Group.

"Sa ating pagkakapit-bisig upang isulong ang ekonomiya, mahalagang pagtibayin natin ang panatag at payapang lipunan na napakahalaga sa mga turista, investor at bumibili ng ating mga produkto. Sa gitna ng mga ligalig sa mundo, gawin nating isla ng matatag at malakas na ekonomiya ang Pilipinas. Pagtulungan natin ito para sa ating mga komunidad at pamilya," President Arroyo said at the NEDA-Cabinet Group meeting. (PIA) [top]

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