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PIA Press Release
2008/07/29

PGMA: Global crisis hurts everyone

by Jemin B. Guillermo

Roxas City (29 July) -- In the present global crisis, all seems to be a victim, says, President Gloria Macapagal-Arroyo in her 8th State of the Nation Address (SONA).

President Arroyo said that "because tough choices were made, the global crisis did not catch us helpless and unprepared."

She added that unlike in the 1997 financial crisis, "it is hard to identify villains" in this global crisis (as) everyone seems to be a victim, rich countries and poor, though certainly some can take more punishment than others.

The President stressed that "even as we reach out to those who need, and who may need us, we strive for greater self-reliance."

She pointed out that "we have the money to care for our people and pay for food when there are shortages; for fuel despite price spikes."

President Arroyo said that "through foresight, grit and political will, we built a shield around our country that has slowed down and somewhat softened the worst effects of the global crisis."

"To address these global challenges, we must go on building and buttressing bridges to allies around the world: to bring in the rice to feed our people, investments to create jobs; and to keep the peace and maintain stability in our country and the rest of the world," she said.

Amidst the current complex time, the President vowed to take care to solve the problems the country is facing now and to provide a vision and direction for how our nation should advance in the future. (PIA) [top]

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