Economy

Arroyo’s 6-Year Record Shows Highest Debt, Lowest Social Spending

MANILA — In her response to a survey that found the Philippines to be the most corrupt economy in Asia, President Gloria Macapagal-Arroyo claimed that the country?s negative image was an offshoot of tough decisions she made to turn the country around, such as the implementation of tax reforms like the RVAT.

But an examination of her six-year record in office showed that her government actually brought the country to its worst-ever fiscal crisis, according to independent think-tank IBON Foundation.

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Lapus Hallucinating on State of Education: Youth Group

March 28, 2007

Letter to the Editor:

Education Department Secretary Jesli Lapus seems to be hallucinating
for blaming the country’s population as the one causing the shortage
of classrooms in the country.

President Gloria Macapagal-Arroyo and her minions are beginning to
sound alike. First it was the Palace Queen who put the blame on the
citizen’s luxuries and ordered a control on using short message
sending or texts and cigarette smoking to avoid experiencing hunger.

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DBP Sets Aside P5.2 Billion for Mindanao Projects

By Germelina Lacorte
davaotoday.com

DAVAO CITY—The Development Bank of the Philippines (DBP) has set aside 5.2 billion pesos this year to finance both pipeline and newly proposed projects in Mindanao, an official of the bank said.

Rey Magno Teves, DBP director, said the bank has the funds to finance critical infrastructures that he hoped would spur economic activities in Mindanao.

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