Economy

Here’s why ’08 Philippines budget is anti-poor

COMMENTARY | By Ibon Foundation

Contrary to the Arroyo government's claims of a social payback in exchange for new tax measures, only 17 centavos out of every peso in revenues are allocated in next year's budget for health, education and housing services. In the budget, funding for government hospitals was slashed by 12 percent. By contrast, the Department of National Defense will get thrice as much as the health department.

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Bayan Muna belies Philippines?s ?economic growth?

DAVAO CITY — Bayan Muna negated here today the recent pronouncement of Pres. Gloria Macapagal Arroyo of posting the alleged highest economic growth in 20 years saying that the ?fake president is at it again, executing a grand sham design to divert public animosity over the new revelations of the Hello Garci scandal.?
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Workers incredulous?not surprised?over Philippines?s growth claim

DAVAO CITY — Kilusang Mayo Uno-Southern Mindanao Region today slammed Gloria Arroyo?s declaration that her administration?s plans for the economy has succeeded, saying the hard-up Filipino people will be the first ones to negate her preposterous claim.
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Noli wrong: Rising number of OFWs show Philippines’s bankruptcy ? Migrante

MANILA — Contrary to Vice-President Noli de Castro?s assertion that the growing number of Filipinos employed abroad was proof of an economic boom ? an alliance of overseas Filipino groups said the rising number of OFWs underline a worsening Philippine economy.
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