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| 31 MARCH 2008 | . | |
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| 31 MARCH 2008 | . | |
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| PGMA orders OWWA to set up 'OWWA Tambayan' for OFWs in Hong Kong |
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HONG KONG (via PLDT) – President Gloria Macapagal-Arroyo ordered today the
Overseas Workers Welfare Administration (OWWA) to set up an “OWWA Tambayan”
here where Hong Kong-based overseas Filipino workers (OFWs) could converge
on their days off from work. Filipino workers here, particularly the domestic workers who comprise the bulk of OFWs in this former British colony, usually converge in public parks on Sundays. The President ordered the setting up of the OWWA center cum “tambayan” when she had coffee last night (Sunday, March 30) with officers of five HK-based OFW organizations at the Grand Hyatt Hotel here. The President’s directive was warmly welcomed by the OFWs in this former British crown colony. The Chief Executive, who had just addressed a gathering of the members of the Hong Kong Filipino community at the hotel’s Tiffin Lounge, directed Acting Labor Secretary Marianito Roque to up the said tambayan “as soon as you locate a place.” She also urged the OFWs to sell Filipino products in the soon-to-rise OWWA center, and even become franchise holders of the “Tindahang Pinoy.” The Tindahang Pinoy is a new entrepreneurship program of the Department of Trade and Industry (DTI) to propagate native Philippine products. Thanking the Filipinos here for their continued support, the President also granted their request for the government to set up OFW Affairs Desks in local government units (LGUs) in the Philippines, “especially in areas with substantial OFW deployment.” Also approved was the request of the OFWs for the setting up of OFW wards in government hospitals which the President said could start with the Philippine General Hospital (PGH). Also during the coffee with the President were Foreign Affairs Secretary Alberto Romulo, Press Secretary Ignacio R. Bunye, Philippine Ambassador to China Sonia Cataumber-Brady, RP Consul-General to HK Alejandrino Vicente, and Eastern Samar Governor Ben Evardone, secretary-general of the Union of Local Authorities of the Philippines (ULAP). The OFWs represented in the coffee with the President came from the ranks of the “PGMA Pa Rin,” also known as GMPA for “Galing Manggagawa Pinoy Abroad,” WoMed HK, Federation of Visayas Associations in HK, Black Panther Consolidated – HK, and the World Organizers of Martial Arts–HK. |
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| PGMA launches 4 banking assistance programs for benefit of OFWs in HK |
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HONG KONG (via PLDT) – President Gloria Macapagal-Arroyo was literally
mobbed last night by members of the Filipino community (Filcom) here when
she graced the formal launching of four government bank programs to help
alleviate the lives of overseas Filipino workers (OFWs) and their families
back home. Dressed in a cream dress suit, the President needed almost 10 minutes to traverse the Tiffin Lounge of the Grand Hyatt Hotel where the cocktail reception for the Filipino community was held from 7:30 p.m. to 8:30 p.m. Sunday (March 30). The presidential welcome march had to be played seven times before she finally managed to reach the stage despite efforts by the members of the Presidential Security Group (PSG) to clear the way for her. The President, who was accompanied to the reception by First Gentleman Jose Miguel Arroyo, acquiesced to the requests of her countrymen for photo-opportunities with her as she inched her way to the stage. It was the same story when she left the event an hour later – the presidential march had to be repeated four times as the OFWs again surged to press flesh with her. In contrast, small groups of professional demonstrators were making noise in front of the Philippine Consulate and near the Grand Hyatt Hotel with their rehearsed anti-government chants. In her speech, the President thanked the members of the Filcom for coming to the reception, and congratulated them for being the country’s goodwill ambassadors to HK. “Nagagalak akong makasama kayong muli. Ang Linggo ang karaniwang araw ng pahinga, kaya sa pagdalo ninyo sa gabing ito, maraming salamat sa inyong lahat,” she said, adding that “nowhere is foreign policy more important than in protecting and advancing the interests of our overseas workers.” “Kayo ang napaka-importanteng layunin ng ating foreign policy (applause),” the President pointed out, citing the release of a Filipino seaman who languished in a Bangladesh jail for 14 years as the latest foreign-policy accomplishment of her administration. The seaman was released upon the intercession of the Department of Foreign Affairs (DFA) which also worked with other concerned Philippine government agencies for the release of 700 other Filipinos who have been imprisoned in Saudi Arabia jails. The President also said that because her administration’s intercession, some 150 OFWs are also “being freed from Middle East jails.” As for the HK-based OFWs, the President said “sandaan dalawampung libo kayong Pilipinong naninirahan at nagtatrabaho dito. Saludo sa inyo ang lahat na tagarito. Congratulations.” “Dapat naman. Hindi matatawaran ang sipag at kalidad ng inyong trabaho, gayon din ang mabuting asal at katapatan ninyo sa tungkulin,” President Arroyo added, pointing out that aside from the Philippine Ambassador to China who is based in far-away Beijing, “120,000 bagong ambassadors kayo, ang mga Embahador ng Pilipinas sa Hong Kong. “Hindi lamang ito, kundi lalong matimbang kayo sa ating bansa. Ipinagdarangal at binibigyan ng halaga ang inyong sakripisyo at katapatan sa inyong trabaho, sa inyong mga pamilya, at sa ating bansa,” she said. |
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PGMA's Speech during the
Formal Launch of OFW Savings Instruments of DBP and LBP at the reception
with the Filipino Community in Hong Kong Tiffin Lounge, Grand Hyatt Hotel, Hong Kong SAR March 30, 2008 |
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Maraming salamat. Maraming salamat, Secretary Romulo, sa iyong pagpakilala sa akin. At binabati natin ang ibang mga Cabinet members at national government officials na narito ngayon sa ating business mission; binabati ko rin ang ating mga elected officials na narito sa pamumuno ni Deputy Speaker Girlie Villarosa ng Mindoro Occidental; binabati ko ang ating mga official na Pilipino na nandito sa Hong Kong at saka sa China sa pamumuno ni Ambassador Brady at saka ni Consul General Vicente; at binabati ko rin si Jojo, thank you; at kayong lahat na mga Pilipinong narito, magandang gabi sa inyong lahat. Ako ay nagagalak na makasama kayong muli. Linggo ang karaniwang araw ng pagpapahinga, pero nandito kayo ngayong gabi kaya maraming-maraming salamat sa inyong lahat. At narito si Secretary Romulo at saka si Ambassador Brady mula pa sa Beijing dahil nowhere is foreign policy more important than in protecting and advancing the interests of our overseas workers -- kayo ang napaka-importanteng layunin ng ating foreign policy. Eh doon nga sa mas malayong lugar kay sa Hong Kong -- Bert I'd like to congratulate you all. The DFA recently reported a seaman released after 14 years in a Bangladeshi jail. At kung naalala ninyo noong ako ay nagpunta sa Saudi Arabia napalaya natin ang 700 na mga bilanggo. Ngayon meron namang 150 being freed from Middle East jails. At napaka-importante yun doon sa Middle East dahil dalawang milyon ang Pilipino doon. Pero dito sa Hong Kong, popular na popular din ang Hong Kong bilang destination ng OFWs. Kayo ay 120,000 na Pilipinong nakatira at nagtatrabaho dito, at saludo sa inyong lahat ang lahat ng mga tagarito sa Hong Kong. Congratulations! Dapat naman, hindi matatawaran ang inyong sipag at ang inyong kalidad ng trabaho, yung inyong mabuting asal, yung inyong katapatan sa tungkulin. Kaya bagama't si Sonia Brady ay malayo, nandoon sa Beijing, meron tayong 120,000 Philippine ambassadors here in Hong Kong -- kayo na nga ang ating overseas Filipino. At hindi lamang ito, mas lalong matimbang kayo sa ating bansang Pilipinas. Ikinararangal at binibigyan ng halaga ang inyong sakripisyo at katapatan sa inyong trabaho, sa inyong pamilya, at sa ating bansa. Kanina sabi ni Consul General, kumokonti na raw yung mga nag-e-emigrate mula sa Southern Europe pero kung titingnan natin yung Portugal, medyo mayaman-yaman na rin, 10 percent pa rin ng population nila ay Overseas Portuguese Workers kagaya ng Pilipinas, 10 percent. Doon sa New Zealand, mayaman siya pero 25 percent ng New Zealand population ay nasa overseas din. Ang kaibahan ng New Zealand, bagama't yung kanyang mga yuppie ay nagtatrabaho sa ibang bansa, pinapadalhan pa rin ng pera ng mom and pop iyong anak na nasa ibang bansa. Ang mga Pilipino, kayo ang nagpapadala sa inyong pamilya ng inyong tulong, hindi the other way around, kaya nagtutulong kayo sa pamilya ninyo, tumutulong kayo sa ating bansa. Maraming salamat sa inyong lahat. Ngunit hinahangad natin ang araw, gaya nang sabi ni Consul General na sana hindi na kailangang mangibang-bansa pa ang isang masipag na Pilipino upang makahanap ng desenteng trabaho. We're working for a strong and growing economy to pave the day when Filipinos no longer need to go abroad for a job, and being an overseas worker is just another career option, not the only choice one has to earn a living. A strong and growing economy is the central pillar that we have labored to create to help guarantee peace, order and stability in our country. And it is paying off: 2007 ang pinakamagandang taon para sa ekonomiya ng Pilipinas sa mahigit tatlumpung taon. Kaya lamang pag malakas ang ekonomiya ay malakas din ang piso. Kaya lang hindi rin kaila, talagang hindi kaila, na nakabawas ang paglakas ng piso sa panggastos ng mga pamilyang OFW. Kaya lang naman, nakinabang din ang 80 milyong Pilipino dahil hindi gaanong tumama sa kanila ang buong presyo ng pagtaas ng langis sa mundo. Kasi kung 55 pesos kada dollar ang palitan, gaya noong araw, mas mataas pa sana nang five pesos bawat litro ng presyo ng gasolina at diesel. Nabawasan din ang dolyar na utang ng gobyerno at mga korporasyon, kaya mas nailalaan natin sa budget ang mga proyektong pangmasa. Bumaba rin ang singil sa pautang ng bansa, kaya mas mababa pa rin ang interest sa pabahay at pahiram sa negosyo, six percent na lamang yung Pag-Ibig. Ngayon lang nangyari yun, dahil yun sa malakas na piso. Kung hindi lumakas ang piso, mas malala pa sana ang pagtaas ng presyo sa bansa. Ganunpaman, upang hindi maging lubhang mabigat ang paglakas ng piso sa mga OFW, nakita ninyo kaninang hapon ang mga masigasig na pagkilos ng ating administrasyon. Inatasan natin ang mga institusyong pinansiyal ng gobyerno na lumikha ng mga paraan upang lubos-lubusin ang pakinabang ng OFW sa inyong kinikita. Kung naalala ninyo noong Enero, hindi ba pumunta dito si Bise Presidente Noli de Castro para ilunsad yung programa sa hedging ng Development Bank of the Philippines. Kasama niya noon si Mike Arroyo, ang aking asawa. He was here at that time. Kaya ito ay para proteksiyunan ang halaga ng kinikita ninyo. Sa programang hedging, you can already decide, gaya nang sabi ni Jojo, what exchange rate you can change your U.S. dollars for your pesos in the future. Or you can get some insurance and have the option to sell your dollars for pesos in the future either at a certain protected rate or at the prevailing market rate, whichever is better for you. Itong DBP Hedging Program -- nandito si President ng DBP. Hindi ba nandiyan si Rey David, nakita ko. Ayun! nagre-raise pa nga... Rey, nabanggit na ba niyo kanina yung incentive to the first 100 OFWs? Ang DBP ay magbibigay ng incentive sa unang 100 OFWs na kukuha ng peso insurance. Bibigyan ng 50 percent discount sa insurance fee ng remittance. Basta lang hindi kayo lalampas ng HK$30,000 bawat buwan. Samantala, mayroon naman, binanggit na ni Consul General Vicente yung i-Net Negosyo Program ng DBP para maka-asenso, makapag-negosyo ang inyong mga pamilya sa Pilipinas. Mayroon isang bilyong pautang ang DBP para magtayo ng mga munting istasyon ng internet ang mga OFWs. Atin ding inilunsad ang mga programa ng Bangko Sentral, nandiyan ang ating Central Bank of the Philippines Governor, si Say Tetangco. Alam ninyo si Say, hindi iyan pwedeng mautusan kasi independent yan sa national government, pero nandito siya kasi itinuturo niya iyong Financial Literacy Program sa mga OFWs. At nandito yung mga stock exchange para kayo ay mag-invest sa stock exchange. Mas mabuti yun kaysa doon sa mga pyramid. Yung stock exchange nakikita ninyo minu-minuto kung ano ang presyo ng inyong stock. Itong mga ito ay para magbigay ng kaalaman sa pera at mamuhunan ang mga OFWs para sa inyong mga pamilya. Kasi hangad natin na bigyan ang mga OFWs ng pagkakataon hindi lang para maging overseas Filipino workers, hindi lang para maging ambassador to Hong Kong, kung hindi maging Overseas Filipino Investors o OFI. Isa pang programa ay yung Tindahang Pinoy. Nung pumasok kayo, meron kayong nakitang booth, iyon ay Tindahang Pinoy para sa gustong magbenta ng mga produktong Pinoy sa mga lugar na pinagtatrabahuhan ng mga OFWs. Pinagsama-sama ng Tindahang Pinoy ang iba’t-ibang produkto na gawa sa atin gaya ng Cornick o Boy Bawang -- gapo diyay amyanan -- broas at iba pang kakanin sa Katimugan, sardinas mula sa Saranggani Bay – ang dami yatang mula sa South Cotabato diyan, magbenta kayo ng sardinas from Saranggani Bay sa Mindanao at dried mango mula sa Cebu. At hindi lang pagkain. Bahagi din dito ang pagsasanay sa negosyo para sa uuwing OFWs, na ipinapatupad ng OWWA, na noong araw ang namumuno ng OWWA ay ang ating bagong Secretary of Labor, si Nitoy Roque. Congratulations, Nitoy! Ang DOLE at ang OWWA ay magbubukas ng call center training program para sa mga OFWs dito sa Hong Kong. Di ba maraming OFWs dito na teachers? Mga teachers na magaling mag-Ingles. Iyong Ingles ninyo, kapag may call center training kayo ay lalong lalaki pa ang kita ninyo pagbalik sa Pilipinas. Ang training cost ay bibigyan ng subsidy ng OWWA sa pamamagitan ng kanilang scholarships for OWWA members bilang paghahanda sa inyong pagbabalik-trabaho sa Pilipinas. Iyong Land Bank yong-Term Negotiable of Deposit naman ay tiyak na ligtas at abot-kaya basta meron kayong 20,000 pesos na minimum. In fact, itong 20,000 pesos mas maliit pa kaysa sa maraming time deposit, mas mataas ang interest for five years or ten years na deposito kaysa sa karaniwang pag-iimpok sa bangko. Tungkol naman sa singil sa padala ng pera, may OFW Cash Card ang Land Bank na madaling gamitin at mas mura ang remittance. At nandiyan si Manny Pangilinan, isang OFW sa Hong Kong, by choice not by necessity. Yung Smart, hindi ba, Manny, yung Smart ay yun din ay electronic remittance? So, yun ang serbisyo ni Manny dahil alam niya ang buhay ng OFW bagamat mayaman na mayaman na OFW si Manny Pangilinan. Anyway, binabati ko ang mga gumagamit ng mga produktong ito. Congratulations to those who have availed of these products. Mahikayat nawa ang iba sa pakinabang ninyo sa mga programa ng gobyerno. Siyanga pala, speaking of remittances, nandito si Congressman Danny Suarez. Mayroon siyang panukalang batas, Reducing the Transaction Cost for Money Remittances from Abroad coursed through the Philippine Banking System and Remittance Centers para makatulong sa ating OFWs. Magbalik tayo sa ekonomiya ng Pilipinas. Malakas ang agos ng investment. We're close to balancing our budget. Pero nung araw, we had to make tough and unpopular decisions to raise revenues and crack down on tax cheats, so that we could invest in our physical infrastructure and in our people. Pero alam natin ang mga problemang humaharap sa ating bansa at kung ano ang inaasahan ng taong- bayan. And we are delivering the economy, education and the environment. Gusto natin na pag-uwi ninyo sa Pilipinas maganda ang uuwian ninyo, na may trabaho kayo hindi lamang dahil sa reintegration program ngunit dahil marami ang oportunidad sa Pilipinas. Kaya maraming salamat sa inyong mga sakripisyo dito sa Hong Kong. Sana pag-uwi ninyo sa Pilipinas, maginhawa ang inyong buhay dahil sa ating pagsisikap na palakasin ang ekonomiya ng ating bansang Pilipinas. Maraming salamat sa inyong lahat. |
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| PGMA to Asian investors: 'We will invest most where country will benefit most' |
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HONG KONG (via PLDT)--“We will invest most where the country will benefit
most.” Thus declared President Gloria Macapagal-Arroyo today (Monday, March 31) before participants of the 11th Credit Suisse Asian Investment Conference (AIC) that was held at the main ballroom of the Conrad International Hotel here. Some 300 top fund managers from all over the world converged here for the four-day investment conference, according to former Finance Secretary Lito Camacho, now the vice chairman for Asia-Pacific of Credit Suisse. In her speech entitled, “The Path to Modernization, Investing in the Future,” President Arroyo identified the areas of investment that her administration will focus on until she steps down as President in 2010: “We will invest most where the country will benefit most -- in the economy, education and the environment.” The President added, thus: “… We will fight for the economy, education and the environment. “We will fight to feed the poor, improve job creation and do everything in our power to mitigate the global forces increasing the price of commodities like oil and rice,” the President announced. Saying that foreign investments to the Philippines “have been steady and strong,” the President rattled off the country’s billion-dollar locators – including Texas Instruments, Hanjin, Marubeni and the American AES – which joined the earlier “major investors,” among them Shell and Proctor and Gamble. “We will continue to be increasingly strong in manufacturing, high technology, services across the board from outsourcing to aircraft maintenance, as well as tourism and real estate. “We see many, many opportunities for investors…” the President enthused. And while waiting for new foreign investors, the President said her administration is dedicating her last two years in office to one main objective – “to invest, invest and invest some more in our nation.” The President then pointed to the 2008 national budget that she had just signed as a glimpse into her “sense of priorities.” “… The budget reflects our values and policy priorities for investing in our people. This budget invests in what we call the three ‘E’s,’ the essential building blocks of our nation, namely, the economy, education and the environment. “… Our 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. “It is a budget dedicated to investing in the vital physical and human infrastructure to continue to modernize our nation. Roads, bridges and ports along with education and healthcare build up the foundation of the nation and make us more competitive.” |
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| President says Filipinos working abroad not sign of weak economy |
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HONG KONG (via PLDT) – President Gloria Macapagal-Arroyo today stressed that
Filipinos working abroad is not a sign of a weak economy. In the question-and-answer portion that followed her keynote speech before the 11th Credit Suisse Asian Investment Conference (AIC) at the Conrad International Hotel here, the President explained that her administration’s human and infrastructure investments are all meant to “increasingly keep the best and brightest at home.” “Going abroad is not necessarily a sign of a weak economy,” the President said as she expressed her confidence that Filipinos’ working abroad is a sign instead that Filipinos work abroad because of more career opportunities for Filipinos in this global economy, “rather than out of necessity.” The President pointed to New Zealand whose 25 percent of the populace work abroad, and also Portugal where 10 percent are overseas contract workers. Earlier last night (Sunday, March 30) at the reception that President Arroyo tendered for the Filipino community at the Grand Hyatt Hotel, Philippine Consul-General to Hong Kong Alejandrino Vicente lauded the President’s vision to improve the country’s economy to prepare it for the eventual homecoming of overseas Filipino workers (OFWs). Vicente had pointed out that the out-migration phenomenon had actually started in Southern Europe -- particularly in Spain, Portugal, Italy and Greece – in the early 50’s to the 70’s. “Many an Italian, Spaniard, Portuguese and Greek went to Northern Europe to find jobs to be able to feed their families back home. “In the 1980’s, this out-migration trend began to level off as Southern Europe marched towards economic progress brought about in part by the savings and remittances and investments of these countries’ overseas workers. “Economists have noted that migration from Southern Europe declined as the average per capita income began to improve,” added Vicente as he pointed out that this European out-migration experience “should resonate well with us.” |
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PGMA's Speech at the 11th
Credit Suisse Asian Investment Conference Main Ballroom, Conrad International Hotel, Hong Kong March 31, 2008 |
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“THE PATH TO MODERNIZATION, INVESTING IN THE FUTURE” 2007 was the best year for the Philippine economy in over 30 years. Economic growth was 7.3 percent; a million new jobs were created; and foreign investments have been steady and strong. We have been cited by London as the "offshore destination of the year" and by the International Data Corporation as the top global outsourcing destination after India. Our billion-dollar investment club includes Texas Instruments with its new 1.6-billion-dollar wafer fabrication facility under construction and two shipyards of Hanjin, one up and one coming up costing 3.7-billion-dollar total which makes us the fourth biggest shipbuilder in the world. In addition, Marubeni and AES have each invested billions of dollars in our power sector. They have joined the ranks of Shell and Proctor and Gamble, to name but a few of our major investors. We will continue to be increasingly strong in manufacturing, high technology, services across the board from outsourcing to aircraft maintenance, as well as tourism and real estate. We see many, many opportunities for investors; the Philippines is one of the best values in Asia. We hope you all find out why. Just this month, the International Monetary Fund lauded our economic growth, the substantial reduction in our budget deficit, low inflation and the improvement in investor confidence. The IMF executive directors highlighted, in particular, our fine central bank for smoothening foreign exchange fluctuations as the peso touched an eight-year high against the U.S. dollar in recent months. During this same time, the country's foreign exchange reserves reached a record high. 2008 holds real promise for a different reason. Not only do we expect continued strong growth, but as a result of our total economic overhaul, we are well-positioned to weather a global economic slowdown which, unfortunately, will affect all of us. The real story for 2008 is that our macroeconomic fundamentals are stronger than ever due to tough choices we have made on boosting revenues, cracking down on tax cheats, bringing reform to our revenue collection and modernizing our banking and financial sector. We have reformed our budget to be in balance ahead of the medium- term plan schedule of 2010. Last year, our deficit was only P12.4 billion, the lowest in ten years and far below the ceiling of P63 billion. Revenues were up 16 percent from 2006. Seven years ago, no one thought we could do it, but we have. There will be no rest. We are continuing the pace of progress that has succeeded in strengthening our economy. Tax revenues in 2008 aren’t stagnant: they are up 17% over 2007. They will continue to improve with more money for enforcement, modernization and computerization and closing of loopholes. 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 first-world nation within a generation. Our strengthened economic fortunes come none too soon, for as we are all very aware, there are clouds on the economic horizon that we must guard against. The global economy is facing significant challenges. The slowing of the economies in North America and Europe is top of mind in our calculations to protect our own economy. To that end, we have developed a program that includes: first, to ensure a surge in investments in people and infrastructure; second, to ensure that we continue to pursue anti-corruption initiatives and to cut red tape; and third, to blunt the global rise in the cost of energy and rice by providing targeted relief to the poorest amongst us who suffer the most from the high global price of energy and food. These global forces are putting more strain on our working poor as prices for commodities like rice and fuel increase. We are a price-sensitive nation. So while our macroeconomics are strong, the benefits are still working their way down more slowly than we want to lift up our citizens who live and work paycheck to paycheck. We need a strong middle class is to become a strong modern nation. Our middle class is made up of the families of the overseas Filipino workers. We are working to mitigate the impact of the movement of the peso on them. We are working to soften the blow from the current global economic challenges to those working hardest to make it into the middle class. The best thing we can do in the short term is provide responsible, targeted relief to those most in need. 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. We will continue on the path of reform and economic discipline; the near-term pain will provide long-term gain for our nation. It may not be popular, but it is setting the nation on a new course. Within our existing budget, we will frontload investments to stimulate the economy and we will provide additional funds to help cushion the high price of fuel and food. 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 importantly, my last two years will be dedicated to one main objective: to invest, invest and invest some more in our nation. The national budget which I signed a few weeks ago provides a roadmap for realizing our priorities in 2008 and for the remainder of my term. It should provide you with a sense of our priorities. First, the budget reflects our values and policy priorities for investing in our people. This budget invests in what we call the three ‘E’s,’ the essential building blocks of our 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, our budget represents another important step in the economic development of the Philippines – namely, fiscal discipline. We have the strongest economy in over thirty years as a result of the tough reforms. We have been able to strike the appropriate balance since coming to office between the competing objectives of spending more on much-needed social programs and public investment and keeping the fiscal deficit low. `Part of the plan includes a march toward 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. Political noise need not interfere with economic progress and reform. Our 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. It is a budget dedicated to investing in the vital physical and human infrastructure to continue to modernize our nation. Roads, bridges and ports along with education and healthcare build up the foundation of the nation and make us more competitive. 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. We are freeing ourselves of the shackles of corruption evidenced by our growing economy – which is increasingly free of corruption and inefficiency. Our budget invests more and more to clean up the culture of corruption. It pumps billions of pesos into the country’s investigative arm to weed out corruption. We have called on Congress to pass a comprehensive anti-corruption reform act in 2008. We will hold officials accountable if they are found to be corrupt. For our part, any allegations of wrong doing go straight to the independent Ombudsman. We will let the chips fall where they may as investigations are concluded and friend and foe alike are brought to account for their actions. While we have accomplished much, much more remains to be done. We plan on working hard the next two years until the day our term ends in 2010 to fulfill our Philippine reform agenda. This includes legislative efforts to continue to improve our banking and finance system; to strengthen our tax collections and to continue to broaden our tax payer base; and crack down on corruption and reduce red tape. We will balance needed investments in our people and infrastructure with a prudent eye toward fiscal discipline. We will invest most where the country will benefit most: in the economy, education and the environment. We must and we will press forward with more reforms. We will fight for the economy, education and the environment. We will fight to feed the poor, improve job creation and do everything in our power to mitigate the global forces increasing the price of commodities like oil and rice. Overall, we remain bullish on our economy, optimistic about our future and deeply committed to being a force for good in our nation and in our region. Thank you for your interest in the Philippines and for a strong, united Asia. |
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