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Insisting on the gains made in strengthening the economy, President
Gloria Arroyo has expressed confidence that the Philippines is at a
“tipping point” and will reach First World status within a
generation.
In a report filed by the Philippine News
Agency, Mrs. Arroyo said “I’m confident that the Philippines
will tip forward in pursuit of reaching the status of first-world
within a generation.”
The President said this in her speech during the
Philippine Development Forum (PDF) held March 26 at the Fontana
Convention Center at the Clark Freeport Zone in Pampanga.
“It is my pleasure to join you in our
constantly productive and insightful dialogue on Philippine
development,” the President enthused to the PDF participants,
assuring them that the year “2008 holds real promise for a
different reason—not only do we expect to sustain our growth, but
as a result of our total economic overhaul, we are, I believe,
well-positioned to weather a global economic slowdown which,
unfortunately, will affect all of us.”
Citing 2007 as the “best year for the
Philippine economy in over 30 years with a 7.3 percent economic
growth,” the President told the country’s investors and
creditors, including the World Bank, that “the maturity in our
economy has brought with it a new confidence that forms the
foundation of sustained economic growth moving forward.”
“We assure you there will be no rest. We are
continuing the pace of progress that has succeeded in strengthening
our economy,” Mrs. Arroyo said, adding, “we made a policy
decision that—in any case since we were not expected to balance
our budget last year—we should spend all that extra revenue on
infrastructure and social services.”
“The national budget which I signed a few
weeks ago provides a road map for realizing our priorities in 2008
and for the remainder of my term. It should provide you, our
international donor and creditor community, with a sense of our
priorities and our thinking about the future of our nation,” the
President said as she pointed out that “overall, the budget
provides a buffer to mitigate the pain of a deteriorating global
economy and the accompanying rise in prices which affects food and
transportation the most.”
“Political noise there is, but it need not
interfere with economic progress and reform. This (2008) budget
helps make that point. The people are tired of partisan wrangling,
they want all of us to do our job—which is to work for the interest
of the people, keeping the nation strong and stable, and always
moving forward,” stressed Mrs. Arroyo.
“First, the budget reflects our values and
policy priorities for investing in our people. This budget invests
in what we call the three ‘Es.’ They’re the essential building
blocks of a nation, namely: the economy, education and the
environment. Every Filipino wants a good job, food on the table,
sound education for their children and a healthy environment with
clean air, clean water and clean land.
“Second, this budget represents another
important step in the economic development of the Philippines,
namely, fiscal discipline . . . Part of the plan includes a march
towards a balanced budget for the first time in many years.
“Lastly, this budget proves once again that
members of Congress from both the House and the Senate and all
parties can come together to work with the Executive branch to get
things done for the nation.”
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