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PIA Press Release

Economy growth to trickle down to Filipino people - PGMA

By Rose B. Palacio

Manila (5 October) -- President Gloria Macapagal-Arroyo said she would ensure that the benefits of a growing economy would trickle down to the Filipino people, especially the poor.

The state remains committed to making long-overdue investments in our country and our people, the President said in her message during the formal turnover of the Leyte geothermal plants to the PNOC-EDC.

Today, the Philippines is on the path to permanent economic growth and stability. Investments are pouring in, our peso is strong, our stock market has reached historic heights and we have created six million jobs, she said.

The world is taking notice that "the Philippines is now a very attractive investment in Asia as she vowed to focus on ensuring that these economic gains would be sustained to benefit the Filipino people, especially the poor.

We are committed to consolidating the gains in new revenue by making long overdue investments in human and physical infrastructure. This includes billions of pesos in education, healthcare, and training along with billions in new bridges, roads and ports to upgrade the competitiveness of the Philippines, she said.

We take pride in the discipline of our administration to focus on the economy and our overall economic health. We are proud of the fact that external debt is being pre-paid at a rapid clip, optimistic that we will balance the budget in 2008, two years ahead of schedule, and that we are making sure to use the gains to invest in vital social and economic needs, the President said. (PIA) [top]

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