Policy reforms, not Arroyo, helping economy grow now

While President [Gloria Macapagal- Arroyo] has stressed in recent days that the favorable economic signs were due to investors' confidence in the government's policy reforms, former President Joseph E. Estrada said the economy in fact worsened during the Arroyo administration. "I thou...

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Bibliographic Details
Published in:Business world (San Juan, Philippines) Philippines), 2004-04, p.1
Main Author: Rommer M. Balaba, Felipe F. Salvosa II, Anna Barbara L. Lorenzo
Format: Article
Language:English
Subjects:
Aldaba, Fernando T
Budget deficits
Economic conditions
Economic growth
Economic indicators
Economists
Elections
Enrollments
Estrada, Joseph
GDP
Global economy
GNP
Gross Domestic Product
Gross National Product
International trade
Investments
Leung, Karl A
Llanto, Gilberto M
Macapagal-Arroyo, Gloria
Remittances
Securities markets
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Summary:While President [Gloria Macapagal- Arroyo] has stressed in recent days that the favorable economic signs were due to investors' confidence in the government's policy reforms, former President Joseph E. Estrada said the economy in fact worsened during the Arroyo administration. "I thought she [Mrs. Arroyo] is a doctor of economics, [but] she turned out to be a doctor of disaster," he said in Filipino, noting that the budget deficit doubled under his successor's watch. "Foreign Direct Investment (FDI) in the Philippines during the last 24 months of President Estrada was $3.4 billion, 50% more than the total investment during practically the entire tenure of GMA," Mr. Estrada said.
ISSN:0116-3930