The scent of victory in our economic offensive is already in the air and we must clinch it with greater unity, enterprise, optimism and hope.

The bitter pill we have swallowed is taking effect and is mopping up the structural weaknesses in the Philippine economy.

This is a grand achievement of the Filipino people who are continuously staying the course of sacrifice, discipline and collective interest. The world is also taking notice of our emergent political stability and we must match our positive credit ratings with better security ratings in the drive for the rule of law and easing armed conflict.

The improved outlook by Fitch is a morale booster for all Filipinos as it acknowledges our determined, collective effort to strengthen the economy, increase government revenues, and cut down on irresponsible spending.

We call on all sectors to promote stability on the political and economic fronts. Let us perform our duties as responsible citizens by paying the correct taxes, abiding by our laws, and doing our share to promote a safer and cleaner environment.

This is another working day for the President who will spend the morning at the Philippine Institute for the Deaf and thereafter to tend to the poorest residents of Taguig City through the "Serbisyo Muna Caravan."

We appreciate all efforts to help alleviate poverty and hunger, for these are also the prime concerns of President Arroyo.

The move of former President Estrada is a clear signal for all his allies and constituents to rally behind constructive programs instead of self-serving and destructive politics.

We appreciate the Supreme Court’s decision to prioritize the deliberation on Executive Order 464 as we welcome all the legal challenges that have been raised against it.

This has been subjected to thorough study and discussion by our own pool of lawyers prior to its implementation and we are confident that the law is on our side.

The dismissal of 25 police personnel as a result of the discovery of the Pasig City "shabu" compound signals the firm resolve of the government to discipline errant cops who fail in their duty to fight crime and protect our people.

The six PDEA (Philippine Drug Enforcement Agency) agents who have recently been dismissed would still undergo an internal inquiry to determine whether their negligence was due to plain indifference, or a deliberate act of complicity with the drug pushers for self-gain.

As a Valentine’s Day treat to the people of the infant city of Taguig, President Gloria Macapagal-Arroyo led today the delivery and distribution of livelihood, health and social services under the "Serbisyo Muna Caravan" in Barangay Signal Village of the city.

She arrived at 11 a.m. at the barangay’s covered court where she was welcomed by Taguig City Mayor Sigfrido Tinga, Presidential Adviser on Jobs Creation Arthur Yap, Health Secretary Francisco Duque III, Social Welfare Undersecretary Celia Yangco, and Barangay Chairman Henry Duenas.

The President led the ceremonial distribution of 1,800 PhilHealth cards, accreditation certificates to operate eight Botika ng Barangay and 10 new Tindahan Natin, and turned over P25,000 worth of medicines for each barangay in the city.

The Chief Executive then awarded several processed driver’s licenses from the Land Transportation Office (LTO) satellite office and several passports under the Department of Foreign Affairs’ (DFA) Passport on Wheels program.

The President also witnessed the grant of P82 million worth of anti-viral medicines from United Laboratories to the Department of Health (DOH) and the memorandum of agreement (MOA) for the continuing commitment and partnership between Taguig City and the Manila Water Company Inc. (MWCI) for the Tubig Para sa Barangay program.

Six weeks into the New Year, President Gloria Macapagal-Arroyo smells victory in the government’s fight to improve the economy through "bitter pill" reforms.

Her economic offensive is starting to bear fruit and the bitter pill she asked the nation to take is mopping up the structural weakness of the Philippine economy.

She said the gains are real, the prospects of further economic breakthroughs are even brighter.

Last Monday night, in a roundtable discussion in Malacanang, a visibly buoyant President Arroyo proudly informed the country that another international credit rating agency, Fitch of London, has upgraded the country’s credit rating from negative to stable.

The credit upgrade came on the heels of another global rating agency, Standard and Poor’s positive outlook released over the weekend.

S&P said the "stable outlook reflects revised expectations concerning the prospects of policy continuity and adherence to fiscal consolidation, which foreshadows improved chances for overall deficit reduction and stabilization of the country’s debt dynamics."

The S&P ungrade immediately pushed the resurgent peso even higher, closing at P51.48 to $1 on Friday, its highest finish since ending at P51.30 on Aug. 2, 2002.

Earlier this month, the California Public Employees Retirement System (CalPERS), the largest US pension fund and a global leader in the investment industry, also raised the Philippines’ investment rating to No. 14 this year from No. 18 last year in a field of 27 countries.

The positive credit and investment ratings, hand in hand with the continued strong performance of the peso, prompted the Chief Executive to say that the scent of victory is already in the air.

Only a few months ago, she was widely criticized for her unpopular economic reforms.

"The bitter pill we have swallowed is taking effect and is mopping up the structural weakness in the Philippine economy," she said in a statement. "We must clinch (this victory) with greater unity, enterprise, optimism and hope."

The President attributed the grand achievement to the Filipino people who, she said, are continuously staying the course of sacrifice, discipline and collective interest.

"The world is also taking notice of our emergent political stability and we must match our positive credit ratings with better security ratings in the drive for the rule of law and easing armed conflict," she said.

According to her, the stage is now set for lower debt payments, more investments and jobs, and more social services.

"The people shall be the prime beneficiaries of our economic strength, and every centavo we save and spend shall be accounted for with diligence and vigilance," she added.

Meanwhile, Press Secretary and Presidential Spokesman Ignacio R. Bunye described the improved outlook of Fitch as a morale booster for all Filipinos.

Fitch acknowledges the people’s collective effort to strengthen the economy, increase government revenues, and cut down on irresponsible spending, he said.

He pointed out that for the good of the country all sectors must work together to promote stability on the political and economic fronts.

"Let us perform our duties as responsible citizens by paying correct taxes, abiding by our laws and doing our share to promote a safer and cleaner environment," he said.

Bunye said the strong performance of the peso also shows the Filipinos’ strong fighting chance to fulfill their strong potential as a new center of growth and development in Asia.

The Philippine Government Employees Association (PGEA) said today they will not join any protest actions against the government’s rationalization program.

PGEA officials led by its president Esperanza Ocampo made the assurance to Executive Secretary Eduardo Ermita during a dialogue this afternoon at Malacanang’s Premier Guest House

The dialogue tackled all the concerns of government workers involving the rationalization policy.

Among those present were some 40 presidents of employees’ associations from various government agencies, including the Department of Environment and Natural Resources (DENR), Department of Health (DOH), Department of Interior and Local Government (DILG), Department of Agriculture (DA);

Land Registration Authority (LRA), National Bureau of Investigation (NBI), Philippine Health Insurance Corporation (PHIC), Bureau of Treasury, Philippine General Hospital (PGH), University of the Philippines (UP), East Avenue Medical Center, and Veterans Memorial Medical Center.

Last December, Ocampo said they discussed the rationalization program with President Gloria Macapagal-Arroyo and Secretary Ermita who assured them that the concerns of the government employees would be addressed.

"Dialogue really works as we experienced it with Malacanang," Ocampo said.

She said they also proposed to Ermita to help the government’s peace and order campaign and ensure good governance through the courtesy campaign initiated by state workers.

"We discussed with the Secretary our offer to help in maintaining peace and order and ensuring good governance through the courtesy campaign that we have launched," Ocampo said.

She said they also discussed other non-monetary benefits that employees can avail themselves of under the rationalization program, including the provident fund, availability of rolling stores to government workers, transport discounts, and other benefits that would help uplift the lives of ordinary workers.

Ocampo called on the rank and file members of the 300,000-strong PGEA to refrain from joining any mass action against the government and not be misled by some groups and individuals calling for the holding of public protest action against the rationalization program.

"The rationalization program is being studied carefully in close consultation with the PGEA and other employees’ groups. We believe that detrimental provisions of the said plan are being addressed to protect the interest of both the employees and the government," she said.

Ocampo also denounced the claim of some quarters that government employees were not given any salary increase during the Macapagal-Arroyo administration.

Under the President’s administration, Ocampo said a supplemental budget was passed in 2001 too cover their 5 percent salary adjustment.

She added that the President has also approved a P1,000 across the board monthly increase for all government employees. The proposed wage hike is contained in the supplemental budget now pending in Congress.

"The irresponsible statement of some of our colleagues is confusing the state workers who should give more time in rendering public service rather than engaging in activities that tend to disrupt its delivery," the PGEA president said.