Philippine President Vows to Fight Poverty and Sustain Economic Growth Amid Ongoing Crisis

Philippine President Gloria Macapagal Arroyo expressed satisfaction that economic indicators have remained unshaken despite attempts to overthrow her administration. She vowed to "work triple time" to fight poverty and sustain the momentum of the country's economy. The President's statement comes as the country faces a conspiracy among the political opposition, communist rebels, and military adventurists to bring down her government.

Key Takeaways:

• President Arroyo praised the stock market's gain of over 19 points on Monday, with the Philippine Stock Exchange (PSE) index advancing 19.43 points to close at 2,089.36.
• The peso strengthened against the dollar, gaining 14 centavos to close at P52.14.
• The President attributed the improvement in economic indicators to the peaceful resolution of the Marines standoff on Sunday.
• Arroyo emphasized the need to fight poverty, stating that "the only meaningful success is to be successful in fighting poverty."
• The President pledged to invest in infrastructure and education, while stepping up tax collection to fund development programs.
• President Arroyo declared a State of National Emergency to protect business activity and avoid economic fallout.

Statistics:

• The Philippine Stock Exchange (PSE) index advanced 19.43 points to close at 2,089.36 on Monday.
• The peso gained 14 centavos against the dollar to close at P52.14.
• The peso closed at P52.20 to a dollar on Friday.
• The President praised the stock market's gain of over 19 points on Monday.

Sources:

• "President vows to fight poverty, sustain economy." Asia Pulse, February 28.
• (PNA)