“But she (President Gloria Macapagal-Arroyo) is confident that the government policy will keep us on a stable position,” he said.
Dureza said Arroyo and the Cabinet “have always been focusing on how the overcome the challenges.”
Presidential Management Staff (PMS) director general Cerge Remonde said among the measures aimed at easing the impact on the poor of the high inflation rate, which is being blamed for the economic slowdown, is the directive to the PMS and the Department of Social Welfare and Development (DSWD) to intensify the implementation of the different social welfare and infrastructure programs.
“President Arroyo has issued Administrative Order (AO) 236, directing the PMS and DSWD to orchestrate the speeding up of infrastructure and social services project to pump prime the economy,” he said.
The AO, entitled "Revving Up the Government Machinery for Massive Welfare, Livelihood and Public Works Program," directs the PMS and DSWD to "push agencies" in implementation of the different social welfare programs especially those related to social welfare, livelihood and public works program.
It also directed the Department of Budget and Management (DBM) to hasten the release of the Philippine Development Assistance Fund (PDAF) or pork barrel of lawmakers that are intended for social welfare, livelihood and public works program of the government stressing that "pork barrel should be harnessed in boosting growth, jobs and welfare."
Budget Secretary Rolando Andaya Jr. said the government is already foregoing its target of balancing the budget ahead of 2010 “to give the government the chance to continue spending more.”
Andaya added that the 2009 budget is a tactical balance “between fortifying our ‘social armor’ and investing in our people and infrastructure.”
Deputy presidential spokesperson Lorelei Fajardo, for her part, said the slowdown in the country’s economic growth is a direct result of the public’s reaction to the market.
She said the people tend to spend more wisely and use their resources on more important things or just the essentials rather than on “luxury.”
“Government is poised to continually execute its infrastructure program and other economic activities to crate more opportunity for our people to get jobs and earn more thus increasing public expenditure and investment,” she said.
“We expect growth to recover as fuel and food prices stabilize. Government will keep monitoring the continued effect of prices on our people and will institute such measure to help alleviate their effects on our spending public,” she added.
The country’s economic growth slowed down to 4.6 percent in the second quarter from 8.3 percent a year ago.
The first semester growth also stood at 4.6 percent after the National Statistical Coordination Board (NSCB) revised the first quarter growth from 5.2 to 4.7 percent.
Part of the 3.7 percent slippage was attributed by the NSCB to the 8.2 percent high base last year caused by election spending. (JMR/Sunnex)
