Malacañang Palace grateful for Philippines’ improved ranking on economic freedom

Malacañang Palace  expressed gratefulness over a report that Philippines had risen in the world economic rankings to 107 from 115 previously despite a challenging global economic environment published January 14, 2012.

It also welcomed the HSBC Expat Explorer Survey result, which ranked the Philippines as the eighth friendliest country in the world.

The 2012 Index of World Economic Freedom released on Thursday said among 179 countries rated, the Philippines had the 107th freest economy with a score of 57.1. The report said the country's score was 0.9 point higher than last year, attributable in large part to a significant improvement in business freedom.

Deputy presidential spokesperson Abigail Valte said over dzRB that the Philippines improved its ranking because of economic expansion and the efforts of the government to pursue legislative reforms to enhance the business environment.

"We are also happy to note that even the report itself, an assessment from (a) third party, notes that our regulatory efficiency has been notably enhanced. This is what President Aquino has always been saying - that we are really after efficiency and government. We have been trying to streamline systems. Business registration that will take anywhere between 24 to 48 hours can now be done in 15 minutes. These are the small things that can help businessmen who want toinvest in the Philippines," Valte said.

"And the other good news, we're also happy to note that in one of the surveys conducted by HSBC... And this is why we believe that it really is more fun in the Philippines like what the Department of Tourism is saying," Valte said.

Asked whether the WEF report could counter the claims of former president and now Pampanga Rep. Gloria Macapagal-Arroyo against the Aquino administration, Valte said "these are (assessments) by third (parties) who have no axes to grind against the present administration."

"Some people will say, of course the administration will always promote what is good, what is good with the economy and people on the opposite side of the fence will almost, will always promote what is good about them and what is bad about the present. But at least this is a third party assessment and we can see the recommendations and positive findings as well the points that the third party has also raised," Valte said.

Valte said the WEF report cited that despite some progress, "corruption continues to undermine prospect for long-term economic development and the judiciary, which remains susceptible to political interference and it does provide effective protection for property rights or transparent enforcement of the law."

Valte said President Aquino himself had assured the international community that he would continue to be relentless in the fight against corruption and run after those perpetuating the culture of impunity.

"While some people chose to oversimplify and say that corruption is not the only problem, that's true, there are a lot of other problems that we need to face but this one has big impact on our economy," she said.

"This is what we have been concentrating on again in the past year," she said.

"As regards the comment on the judiciary which remains susceptible to political interference, that is up to a separate branch of government to determine how they will take that observation...On the part of the executive, what the President is saying is when it comes to prosecution, your case must be strong, never let the delay come from the executive branch. Now when it comes to the adjudication of cases, that is something that is up to the judiciary to resolve. Before it takes six years to have conviction or acquittal, it is the judiciary that must take steps to ensure that there will be speed (in the) dispensation of justice," Valte said.

Continue reading

Gloria Arroyo a ‘huge failure’ of the Philippines’ Economy

Malacañang Palace turned the tables on former President Gloria Macapagal-Arroyo and branded her administration as "a huge failure" a day after the Arroyo camp came up with a critique citing the Aquino administration's supposed shortcomings in running the economy after taking over in 2010.

"Repeatedly, the performance of her government, the economic as well as the political, has been exposed as a huge failure over the past nine and a half years," Budget Secretary Florencio Abad told reporters.

Abad, who served as Aquino's campaign manager in the 2010 election, said that Arroyo had refused to acknowledge that she turned over a messy state of affairs to her successor.

"She was given the rare opportunity through People Power to lead differently but she turned her back on her big opportunity. We ended up suffering from those years of very bad governance," he added.

No research needed

Abad said one wouldn't have to do a thorough research to dispute the points raised in Arroyo's paper such as the substantial growth rate inherited by the Aquino government.

"The question is, what legacy? The numbers may have grown but if you look at the poverty incidence, it has worsened. Look at the employment numbers, it has worsened during their time," Abad pointed out.

In contrast, Abad cited the renewed confidence the credit ratings agencies have given the Philippines under President Aquino.

"In the 18 months of this presidency, we had five upgrades in our rating, the last one was the Standard and Poor's. We hope within the next two to three months there can be a ratings upgrade," Abad said.

"What is different from this administration's economic policy is that it is not detached from the measures on the improved governance especially transparency and accountability in the use of public funds which was absent totally in the last administration," he added.

The economy, student

In her paper titled, "It's the Economy, Student," Arroyo took a jibe at President Aquino's "obsessive pursuit" to demonize her and erase her legacy.

The paper was read by a University of the Philippines economics professor at a press conference at the Manila Hotel on Thursday.

According to her spokesperson, Elena Bautista-Horn, Arroyo wrote the paper "in her spare time" during her recuperation, hospitalization and hospital detention between October and December 2011.

According to Arroyo, the gains achieved by previous administrations "are being squandered in an obsessive pursuit of political warfare meant to blacken the past and conceal the dark corners of the present dispensation. Rather than building on our nation's achievements, this regime has extolled itself as the sole harbinger of all that is good."

Arroyo's claim that the "politics of division" was to blame for the current economic slump did not sit well with Abad.

"Politics of division? The Filipino people, as surveys and surveys show, have never rallied solidly behind a President as they have shown in support of P-Noy's (Aquino's nickname) anticorruption, good governance and poverty-reduction programs," Abad said.

Vote of confidence

Abad pointed out that even the international community had given the Aquino administration its "vote of confidence."

The budget chief then reminded Arroyo that she, too, could learn a thing or two from Aquino, an economics graduate and a student of Arroyo at Ateneo de Manila University.

"One important lesson that Arroyo should learn from P-Noy is that you cannot separate good governance from economic expansion. One needs the other," said Abad.

In her paper, Arroyo defended the gains of her nine-year presidency but took potshots at the performance of the Aquino administration.

Arroyo, now the representative of the second district of Pampanga who is under hospital arrest for electoral sabotage, accused Aquino of the very ills that bedeviled her presidency and for which she was unable to resolve.

She noted that Aquino was embroiled in "too much" politics. She decried the alleged "use of black propaganda and character assassination" to try to erase her legacy and undo the gains of her nine-year term.

Source:  Philippine Daily Inquirer

Continue reading