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PIA Press Release

OFWs in Malaysia part of growth rate, says PGMA

By Aurora J. Casimpan

TACLOBAN CITY (September 3) -- President Gloria Macapagal-Arroyo has shared the fruits of the country's economic reforms with the Overseas Filipino Workers (OFWs) in Malaysia.

The President proudly announced to the OFWs that the reforms brought a 7.5% growth rate in the country's Gross Domestic Product (GDP) while the Gross National Product (GNP) grew by 8.3%. She acknowledged the role of the migrant workers in the rise of the GNP growth rate. She stressed that the growth happened in the second quarter of the year.

Remittances of OFWs earnings has boosted the country's coffers to P13 billion or 11% of the GNP. The contributions of the workers and the implementation of the Expanded Value-Added Tax (E-VAT) will be used to fund physical and human infrastructure which in turn will attract more investments and create more jobs. Billions of pesos will be used in the furtherance of programs in education, health care and training as well as the construction of new bridges, roads and ports.

The President made the report of the growth rate to the community of migrant workers at the dinner where she was honored. She was in Malaysia with other ASEAN leaders to attend the 50th anniversary of that country's independence from British rule.

As befit a leader, the President has not allowed the noise of the reopening of the Garci case to cloud here appreciation of the nation's migrant workers contribution to the country's economic growth.

She is focused on working for the country's economic growth so that in three year's time, the economic benefit will truly be enjoyed by the citizens. For now, the investments is on human and physical infrastructure development as it will pave the way for investments.

Relatedly, the call to stop the Garci case was echoed by Manila's Archbishop Gaudencio Cardinal Rosales. Like the President, Bishop Rosales is making known to all that the Garci case will hamper development politically and economically.

Reopening the case will drag the country backward instead of forward. Why not join hands in creating a positive outlook and put to implementation the rewards of the economic growth rate for this year?

The country and the nation would profit definitely! (PIA-8) [top]

  prev  next  »|
»Tacloban City mayor warns erring cops
»OFWs in Malaysia part of growth rate, says PGMA
»7.5% growth to benefit farmers, says PGMA
»Lumbangan folks thank Zambo mayor for P1.5-M barangay hall
»Cebuano News: PGMA misalikway sa mga pagsaway kalabot sa mga numero sa ekonomiya
  prev  next  »|

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