If there is one lesson that must be learned on the just concluded May 14 synchronized national and local elections, it is this—the Administration will not allow politics to alter the course of the economy that has reached a new level of maturity and stability.
Amid the feverish political atmosphere during the political campaign, the Administration continued to pursue pro-growth, pro-trade and pro-investment strategies which are meant to uplift the Filipinos from poverty and hunger and which will make the country a real investment haven.
Indeed, through the Administration’s fiscal discipline and reforms like the implementation of the new value-added tax has boosted revenues and has shown that the Administration is serious in moving the economy forward, particularly towards a balanced budget.
The Administration’s efforts to completely focus on the economy and the development of human and physical infrastructure despite political noise and several attempts to destabilize the government, are now paying off.
The payback is seen in the strengthening of the peso, robust stock market, inflow of foreign investments and the generation of six million jobs in the last six years. The coming back to the Philippines of JP Morgan and the recent $1 billion investment project of the United States-based Texas Instrument are signs that the world is taking notice of the country’s growing economy.
At the same time, the government has committed billions in pesos for education, health care, training and infrastructure such as bridges, roads and ports to upgrade the country’s competitiveness as an investment destination.
The focus of all these developments are the Filipinos themselves, to lower if not totally eradicate poverty and hunger, to uplift the living condition of the Filipinos.
The Administration has made remarkable success, but much more can and will be done if the Filipino people and the newly elected leaders all over the country will join hands and support the good developments strategies the Arroyo Administration has started and continuous to pursue with much ardor, dedication and commitment.
Indeed, through the Administration’s fiscal discipline and reforms like the implementation of the new value-added tax has boosted revenues and has shown that the Administration is serious in moving the economy forward, particularly towards a balanced budget.
The Administration’s efforts to completely focus on the economy and the development of human and physical infrastructure despite political noise and several attempts to destabilize the government, are now paying off.
The payback is seen in the strengthening of the peso, robust stock market, inflow of foreign investments and the generation of six million jobs in the last six years. The coming back to the Philippines of JP Morgan and the recent $1 billion investment project of the United States-based Texas Instrument are signs that the world is taking notice of the country’s growing economy.
At the same time, the government has committed billions in pesos for education, health care, training and infrastructure such as bridges, roads and ports to upgrade the country’s competitiveness as an investment destination.
The focus of all these developments are the Filipinos themselves, to lower if not totally eradicate poverty and hunger, to uplift the living condition of the Filipinos.
The Administration has made remarkable success, but much more can and will be done if the Filipino people and the newly elected leaders all over the country will join hands and support the good developments strategies the Arroyo Administration has started and continuous to pursue with much ardor, dedication and commitment.
