Bunye was reacting to opposition claims that 2007 would be more politically turbulent than 2006 because of the administrations mishandling of the custody case involving Smith.
He said the government has been through a number of political storms while the nation has weathered crisis after crisis because of the strong leadership of the President and the support of the Filipino people.
“The political pot will definitely continue to heat up but this will not pose a threat to the countrys political stability, which is firmly founded on a vibrant democracy and a strong market economy,” he asserted.
The President stated in Baguio over the weekend that she sees 2007 as the year when the ordinary Filipino families will enjoy their share of the social payback of her tough policy reforms.
“The best is yet to come,” she stressed. “In other words, may it be the year when it will all come together.”
Even the business community foresees business conditions to improve especially in the first quarter of 2007.
“All indicators point to bright prospects for 2007,” said Philippine Chamber of Commerce and Industry (PCCI) chairman Miguel Varela, who is also the chairman of the Employers Confederation of the Philippines (ECOP).
Varela pointed out that the growth of investments appears to have surpassed targets and the budget deficit is lower than expected.
He also noted that government revenues continue to grow, while the countrys international reserves level “is unprecedented.”
“The outlook for our stock market is bullish for next year,” he pointed out. “Furthermore, I think the peso will continue to climb up to P48.51 by the New Year due to the increased surge of foreign remittances.”
Varela likewise noted that investor interest, particularly in the massive infrastructure program highlighted by the President in her State of the Nation Address (SONA) last year, continues to improve.
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