Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 12 August 2020 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << August 2020 >> 
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:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

Ilonggos to be updated on RP's macroeconomic performance

by T. Villavert

Iloilo City (25 February) -- The Philippine Government's Investor Relations Office (IRO) announced that a Philippine Economic Briefing is secheduled on March 5, 2009 in Iloilo City.

IRO Executive Director Claro P. Fernandez disclosed in his invitation letter to various sectors in Iloilo City that senior members of the Economic Team will present a report on the Philippines ' macroeconomic performace in 2008, and the government's plans and programs to mitigate the impact of the global economic slowdown.

Fernandez said the briefing will also feature a report on the economic performance and outlook of Region 6.

It will be recalled that at the onset of the global financial meltdown, President Arroyo ordered her economic managers to prepare contingency plans in order to lessen the impact of the worldwide financial crisis on the Filipinos, especially the poor.

In one of her speeches, President Arroyo stressed that we "rebooted" our economy several years ago. "We took our economic medicine through fundamental economic reform by raising taxes, cutting down on smugglers, reforming our tax collection system and banking laws. Our reforms paid off with revenue for investments in human and physical infrastructure".

She said part of her strategy is the acceleration of investment which started in January 2009 to further stimulate the economy, to help majority of the Filipino people, and to sustain the economic growth.

The Malacanang press report disclosed that the President noted that since the global financial turmoil has started to spread, the Philippines recorded its 4.5 to 4.6 percent GDP growth and gross national product (GNP) of 6.1 percent improvement during the fourth quarter of 2008, compared to Japan's GDP declined by 12.7 percent, United States by 5.1 percent, Taiwan by 9.2 percent, Thailand by 4.3 percent, Singapore by 3.7 percent, and Korea by 5.6 percent.

In relation to this, the President noted that her administration remains focused on further raising revenues through improvements in tax administration and establishment of a public-private sector fund to support resiliency plan initiatives, provides tax relief for the private sector by reducing corporate income tax from 35 to 40 percent, and by exempting minimum wage earners from personal tax and increasing personal exemptions, the Malacanang press report disclosed. (PIA 6) [top]

|«  prev  next  »|
»NSA Gonzales, bishops push for transparent poll automation
»Soldiers' kids get scholarship
»Only Davao Norte has ready ECCD sustainability fund - CWC
»Joey Ayala lauds Musikahan
»PGMA bares Davao baseport expansion marker
»Army's 10th ID in need of 250 new soldiers
»DTI to create more micro industries in Davao City
»Gov. Malanyaon leads inauguration of shelter units in Davao Oriental
»World-renowned Arnis guru visits Davao
»PGMA matches Pangasinan town's school board's outlay for school improvement projects
|«  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