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PIA Press Release
2007/03/09

P22-B savings for poverty alleviation

By Rose B. Palacio

Davao City (9 March) -- Some P22-billion from the government's savings in 2006 will be used to expand and improve essential services for the poor this year including start up capital for social infrastructure.

Budget Secretary Rolando Andaya, who was in Davao City together with economic managers of President Gloria Macapagal-Arroyo said the Arroyo administration has committed the additional public funds to be utilized to accelerate the government's poverty alleviation program and the rest will be invested in physical infrastructure that will add to the country's investment competitiveness.

The President's economic team is holding a nationwide "Philippine economic briefing Domestic Roadshow " and was in Davao March 2 (Friday) and conducted a forum held at Marco Polo hotel. Together with Budget Secretary Andaya were: Finance Secretary Gary Teves; BSP Governor Amando Tetangco Jr.; Energy Secretary Raphael Lotilla; Agriculture Secretary Arthur Yap and other ranking officials from Malacanang.

Secretary Teves on the other hand, also led the re-launching of Premyo sa Resibo and Tax Enhancement program of the BIR held at Gaisano mall together with BIR XI Director Atty. Marcelinda Omila-Yap, RDO Jose Eric Furia. The affair was participated in by barangay captains, member of the academe, consumers and taxpayers.

A press forum was held at Marco Polo after the economic briefing with members of the Davao media.When interviewed by members of the media, Secretary Teves said "as a result of the painful but necessary sacrifices the people made to raise revenues and crack down on corruption, we now have more revenues and resources to deliver to education, social services, infrastructure, employment generation and other basic services to the poor as what the President wants."

I see 2007 as the year we start to bring home for fruits of reforms to those who need the nourishment to the most - the poor people of the country as envisioned by President Arroyo, Teves said.

The President's economic managers attributed the government's hefty savings to the President's economic reform policies.

Recent statistics indicated that the Arroyo administration has slashed the deficit to almost half of its 2002 levels even as it achieved the fastest annual economic growth and the biggest increase in jobs since 1986. (PIA) [top]

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