Saturday, 28 March 2009

Philippines one of the best performing economies in Asia

FRIDAY, MARCH 27, 2009 | ECONOMY
http://www.gov.ph/news/?i=24007

Press Secretary Cerge Remonde this morning said that the Philippines is now recognized as one of the best performing economies of Asia, thanks to President Arroyo's economic and fiscal policies.

In an interview with Radyo ng Bayan, Remonde cited Business World's report, showing "the peso has outperformed most of the emerging market currencies so far this year and is likely to prove a strong value in 2009 as the Philippine economy is least vulnerable to the factors of hammering markets elsewhere."

Remonde added that "the Philippines will likely be the only nation in Southeast Asia to post a sharp pick-up on its balance of payment surplus in 2009, partly, the result of loans and privatized proceeds. So, talagang dapat din nating malaman na kinikilala talaga ang ating bansa ngayon bilang the best performing economy in Southeast Asia despite the global crisis."

Reports said the U.S. is now showing signs of improvement and recovery from the crisis, which Remonde said will augur well for the Philippines and the rest of the world. "As you know, may kasabihan nga na that when America is sick, the rest of the world catches a cold. And it is precisely that reason na noong nagkaroon ng pag-collapse iyong mga financial houses ng Amerika ang buong mundo ngayon ay naharap itong global economic crisis."

"Buti na lamang dahil sa vision at determination ng ating Pangulo, we are not as badly affected as the rest of the world," Remonde said.

Besides, he said, under President Arroyo the Philippines diversified its export market and now "medyo iyong percentage ng ating international trade with the US has already gone down a bit compared to the previous years. So, we have become less dependent on the US for trade though the US remains our major trading partner and a world political and economic leader."

Remonde repeated that President Arroyo has her plate full, attending to her economic programs, creating jobs and addressing poverty and hunger rather than political issues like charter change.

"As I have already pointed out, si Pangulong Gloria Macapagal-Arroyo ay wala ng panahon diyan sa mga pulitikang usapin. Dahil siya po ay nakatutok po sa ating ekonomiya at sa paglikha ng trabaho," Remonde stressed anew.

"By continuing investment in hunger mitigation programs, the President seemed to have succeeded in this area as borne by the Social Weather Station's February survey, showing hunger incidence dipping to only 15.5 percent," Remonde said.

"Ang sinabi nga ng Pangulo sa kanyang talumpati kahapon na patuloy ang investment ng ating gobyerno sa mga food for work programs, food for school programs, livelihood programs at ipagpatuloy at i-eexpand po ang pakikipagtulungan ng ating gobyerno sa simbahan at iba pang mga faith-based organizations na magkakaroon ng mga joint projects like feeding programs and livelihood programs po diyan."

Finally, he said that the Department of Public Works and Highways is now rushing its construction of a major road project that will link Surigao with Davao. This biggest road project for Mindanao was discussed in the Cabinet meeting in Misamis Oriental where the President tasked DPWH to work 24/7 to ensure its completion.

He added that the President will inaugurate today the P218 million provincial government complex in Maguindanao which will house the provincial Capitol, sports and social centers and other government offices. Of the P215 million, P25 million came from the President's Social Fund. She will lead the ribbon cutting to be assisted by ARMM Regional Governor Datu Zaldy Ampatuan, the Maguindanao Governor, and Cabinet Officer for Regional Development of ARMM, Department of Agrarian Reform Secretary Nasser Pangandaman, and other top local officials.

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