Sunday, January 21, 2007 Arroyo claims economy grew more than during Estrada’s term
MOMENT after vowing to build on the gains of “peace and reconciliation”, President Gloria Macapagal-Arroyo took a dig at her predecessor Joseph Estrada on the sixth anniversary of the second Edsa People Power revolt.
Arroyo, in her Malacañang roundtable discussion Saturday, said the economy under her watch is poised to grow by 7.1 percent, much higher than the five percent under Estrada in 2000.
“Kung ma-sustain natin yan, yan maging susi sa pagahon sa kahirapan. (ang 5 percent na growth rate bago pa sa aking administrasyon), pinagmalaki sa billboards pero ngayon di tayo bumababa ng five percent. Hangarin natin makaabot sa seven percent in 2010 (If we meet the growth target of seven percent that will be our key to freedom from poverty. My predecessor used to set up billboards boasting about a five percent growth but now our goal is to achieve a seven percent growth),” she said in the discussion, which was aired on government-run radio station dzRB.
She added that much of the growth was due to the investments of overseas Filipinos who made mainly portfolio investments or so-called “hot money”.
Arroyo reiterated she will focus her efforts now on “social payback”, to let the masses feel the “benefits” of recent economic gains.
“Panahon na upang makatanggap ang masa ng higit pang biyaya sa edukasyon kalusugan nutrition at hanapbuhay (It is high time the masses feel the benefits of our gains in terms of education, health, nutrition and jobs),” she said.
Arroyo was catapulted to the presidency after a revolt forced Estrada to leave Malacañang on Jan. 20, 2001. Estrada now faces plunder charges and is detained at his rest house in Tanay.
But he remains popular with the masses, and many senatorial candidates - including those who played key roles in his ouster in 2001 - are seeking his endorsement for the May electionss.
In contrast, Arroyo read an opening statement at the start of the discussion, where she promised to build on the momentum of gains in several areas including “peace and reconciliation.”
The theme of the roundtable discussion centered on the gains of the Association of Southeast Asian Nations (Asean) and East Asia summits in Cebu, and the peso’s recent gains.
“We are rising above the specter of the past. We are crossing the threshold to an era of confidence and hope. The momentum is ours, we must keep and drive it forward with our solidarity and hard work, building peace and reconciliation along the way in every nook and cranny of this great land,” she said in her opening statement.
Arroyo also said she will “face the day sharing the hopes of those families who had been lifted by poverty and I promise to better if I can.”
“I face the day sharing the dream of a Philippines mightily taking on the challenges of the world with excellence and pride. No more is our nation a basket case in the region or a weak link in the fight against terror,” she added in her opening statement.
During the roundtable discussion, National Economic and Development Authority (Neda) Director Dennis Arroyo said gross national product (GNP) can go between 6.2 and 7.1 percent, and gross domestic product up to 6.7 percent.
He also said more economic activity is in store this year, with SM malls planning to set up five more malls this year and rival Robinson’s planning four more.
On the other hand, he also said inflation is at 4.3 percent, the lowest in three years. He said this was due to the strengthening of the peso. (JMR/Sunnex)
