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PIA Press Release

NEDA-6 brass says PGMA still focused on dev't goals for RP

by T. Villavert

Iloilo City (14 December) -- President Gloria Macapagal-Arroyo remains focused on her goals of achieving economic stability for the country, said Atty. Raul Anlocotan of the National Economic Development Authority, Region VI.

"While the country is regaining confidence in the economy, yet we might not be able to achieve the projected year end target of 5.3 % increase in GDP. May be because we did not anticipate the impact of increase in the prices of fuel and the political uncertainty during the second half of the year," Anlocotan said.

However, positive developments in the country's economy was brought about by the fiscal reforms initiated by the government through the EVAT and at the same time we were able to stabilize our political situation, Anlocotan said during the PIA interview.

He said that our economy strengthened towards the end of the year because of EVAT implementation and the remittances of our overseas Filipino workers.

"The peso went stronger and at the same time there's an increase in the investors confidence that help in making the economy stabilized", Anlocotan said.

Even while our economy did not get the average growth expected by economists, yet more or less our economy was stable at the time when we are experiencing external shocks due to the fuel price increase, Anlocotan said.

"We can say that 2006 might be a much better year, because if our political situation is further stabilized then we should be able to concentrate on the basic economic reforms that President Arroyo outline in the Medium-Term Philippine Development Plan which is to lower unemployment rate and most importantly to generate more jobs to the Filipino people," Anlocotan concluded.

Meanwhile, Press Secretary Ignacio Bunye in one of his statements said that the President is leading the country by championing the themes of unity and change, and she appreciated the hard work and forbearance of the public through the administrations painful economic measures. (PIA) [top]

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