Looking back on the Arroyo Administration

I have no plans of demonizing her because the media and the childish presidentiables have pretty much covered that. What I’m gonna share right now is what our next president, come May 10, has to beat.

“With positive economic figures to boast of
Despite the tumultuous events through your 9 years
For your presidency not to “invariably end in a bust”
Unlike those of the presidents before you
Unlike the Marcos regime that collapsed in an economic crisis
Unlike that of the Aquino administration that ended with a power crisis
Unlike Ramos who stepped down from office
Battered by the Asian financial crisis, though not of his making
Unlike the Estrada government that was toppled due to political crisis” [1]

 

 

Economy

New York-based think tank, GlobalSource Partners, asked President Gloria Macapagal-Arroyo about her economic legacy.

GS:

Some critics have given you a failing mark based on the promises you made in past State of the Nation Addresses, especially in terms of job creation, education for all, and healing the political wounds of EDSA 2.

Do you think this is a fair assessment?

PGMA:

The critics are wrong. The results of our economic reform program speak for themselves.

According to the National Statistics Office, as of 2008, we had created more than 8 million jobs since the start of this administration, putting our target of creating 10 million jobs by 2010 well within reach. That is a substantial result and that’s not all.

We have also achieved 35 consecutive quarters of economic growth since 2001, stabilized inflation, strengthened our currency, and increased access to education through investments in schools, classrooms and textbooks.

We are also resuming peace talks with the Moro Islamic Liberation Front (MILF) in Malaysia and are moving closer towards peace in Mindanao. These are signs of success. No matter how the opposition chooses to characterize them.

 

Legacy

GS: 

What do you think are your key legacies in terms of steering the Philippine economy forward in the new millennium?

PGMA:

One, the sheer momentum of economic growth on my watch:

35 straight quarters of growth, unprecedented, capped by continued positive growth even through the depths of the worst global recession in decades.

Two, the fiscal reforms I instituted early on my watch capped by the expanded VAT (EVAT), which brought down our deficit ratios, earned us multiple ratings upgrades, and funded economic stimulus and social safety nets against the worst of the global recession.

Three, the infrastructure that we have been able to invest in with the additional resources generated by our fiscal reforms, including physical infrastructures of roads, bridges, seaports and airports, which have brought down our national cost basis especially in food and have led to permanently higher efficiencies in transport and distribution. It also includes virtual infrastructures such as investment in education and the digital infrastructure in the ICT sector, which are contributing to the success of the BPO and O&O industries.

And four, the international advocacy I have pursued on behalf of our millions of overseas Filipino workers as well as our country’s leadership in the discussion of such global and regional issues as the rebuilding of the global financial system, regional economic integration, and climate change. Aggressively marketing and looking after our OFWs is an unparalleled investment in our human capital as well as our global market presence.

source:http://www.abs-cbnnews.com/business/12/16/09/president-arroyo-philippine-economy-better-shape-i-found-it

Also visit:

1. PEZA investments rise 13.3% in 2009

2. http://www.greatnews.ph/milestone_list/

3. DPWH completes 29,370 km of nat’l roads, 314,453 lm of bridges under PGMA

4. More foreign funds seen to find way into RP

5. Cory’s death overshadows Arroyo’s land reform

6. PGMA builds more roads, bridges than 3 previous presidents

7. Gross International Reserves (GIR) hit all time high of $45.03B in 2009

8. Former Quezon City Vice Mayor Charito Planas:  GMA most hardworking president since Quezon

9. RP gets good marks in World Bank survey

10. The GMA administration is number 1 in wealth recovered from plunderers

11. Last column of Press Secretary Cerge Remonde was submitted just before he died