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By Angelo S. Samonte Reporter
Battling corruption, sustaining
economic reforms, and encouraging more investments are her higher
concerns in her last two years in office, President Gloria Arroyo
told industry leaders in Hong Kong on Monday.
President
Arroyo told the global financial and business executives that the
political noise in the Philippines will not stop her from further
boosting the country’s economy until her term expires in 2010.
Apparently, she was referring to the ruckus being made by her
critics over alleged instances of graft in her administration, among
them in the aborted $330-million national broadband deal. More
recently, the political foes of the President blamed her for the
supposed “rice crisis” that they said was caused in part by
connivance between corrupt government officials and rice hoarders.
“The political environment will
not force us to do anything we do not think is in the best interests
of the nation. The economic environment, however, will dictate that
we provide a buffer, as much as prudently possible, to the poorest
who suffer most from rapidly rising prices,” Mrs. Arroyo also told
participants to the 11th Credit Suisse Asian Investment Conference.
Reiterating that she will step
down in less than two years’ time, she said: “The best thing we
can do for the remainder of my term until I step down in 2010 is to
stay focused on further economic reforms while providing peace,
order, and stability. Most important, my last two years will be
dedicated to one main objective: to invest, invest, and invest some
more in our nation.”
Besides aggressive state
spending, the President stressed that her administration is serious
in fighting graft.
“Let me also address head-on
the issue of corruption. It is an issue we take seriously. As an
economist, I know that first and foremost, a strong economy is an
economy that is transparent and free from corruption,” she said.
The President also told her
audience that she had asked the Congress of the Philippines to pass
a comprehensive anticorruption reform act in 2008.
“We will hold officials [under
this proposal] accountable if they are found to be corrupt. For our
part, any allegations of wrongdoing go straight to the independent
Ombudsman,” Mrs. Arroyo warned.
She cited her government’s
recent economic performance as a result of an effective fiscal
reform program, saying gains from it would propel the country to
greater economic heights.
“This maturity in our economy
has brought with it a new confidence that forms the foundation of
sustained economic growth moving forward. We are at a tipping point.
I’m confident that the Philippines will tip forward in pursuit of
reaching the threshold of a First-World nation within a
generation,” Mrs. Arroyo said.
She also told the business and
financial leaders that the Philippines remains bullish on the
economy, optimistic about the future, and deeply committed to being
a force for good in the nation and in the Asian region.
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