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Tuesday, July 29, 2008 (Philippines)
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| President Gloria Macapagal Arroyo defended her economic policies as a shield against surging food and energy costs while asking Filipinos to be patient because the global crisis spared no one. President Arroyo delivers her State of the Nation's Address during the joint session of the 14th Congress Monday. (AP Photo) |
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MANILA -- President Gloria Macapagal-Arroyo, in her eighth State of the Nation Address (Sona), defended her economic policies Monday amid surging food and energy costs while asking the people to be patient because the global crisis spared no one.
She said it is too late to scrap the value-added tax (VAT) on oil and electricity because it would only compromise present and future progress.
Full text of Arroyo’s 2008 Sona
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