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Economic conditions

President Arroyo Vows to Implement 10-Point Agenda Amid Speculations of Ousting

Strategic Insights

— 1 min read

Philippine President Gloria Macapagal Arroyo has dismissed speculations of her ousting from power, saying she will last her term and leave a legacy of 10 points, referring to her 10-point agenda. The agenda aims to address the country's socio-economic woes, including a budget deficit, and to create more jobs. Arroyo has assured that her administration will continue to implement measures to achieve these goals, and has outlined several priority strategies, including fiscal reforms and tax measures to raise additional revenues.

Key Takeaways:

  • President Arroyo has dismissed speculations of her ousting from power, saying she will last her term and leave a legacy of 10 points.
  • The 10-point agenda includes fiscal reforms to wipe out the national budget deficit by 2010, tax measures to raise P80 billion in fresh revenues, and the passage of the P907 billion national budget for 2005 to fund pro-poor programs.
  • Arroyo has appointed Chief Presidential Legal Adviser Merceditas Gutierrez as the country's new anti-corruption czar, tasked with strengthening government's drive to rid the bureaucracy of graft.
  • Public support is crucial for Arroyo to improve the living conditions of Filipinos, and she expressed optimism that this can be done, citing the country's positive growth rate, increasing exports, and bullish performance of the stock market as indicators of stability and progress.
  • The administration will also focus on the passage of the lateral attrition bill, the sin tax bill, and the proposed bill to rationalize fiscal incentives to raise revenues and promote national interest.

Statistics:

  • The national budget deficit is largely due to huge borrowings of government over the years.
  • The government expects to raise P80 billion in fresh revenues from proposed tax measures.
  • The P927 billion national budget for 2005 will fund pro-poor programs under Arroyo's 10-point agenda.
  • The sin tax bill is expected to increase government coffers by P17 billion annually.
  • The lateral attrition bill is expected to raise another P10 billion yearly.
  • The proposed bill to rationalize fiscal incentives aims to attract more investments and create more jobs.

Sources:

  • Philippines News Agency (PNA) 13-01 1444
  • Asia Pulse, Jan. 13

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