Philippine President GMA; Proud of The Strong Economy despite US Recession

Friday, October 10, 2008

Hey! don't compare the height! People say she's strong and powerful yeh know!

Despite the global economic crisis that affected the US, Europe and Asia... the Phillippine economy continues to be strong says President Arroyo. From a tv show I watched this afternoon, she stressed while speaking on a conference in Makati that the government she says has readied itself for these kind of situations. I doubt that it is the real score but I consider this strength is caused by the millions and billions of dollars that our Overseas Filipino Workers is pouring in as expected because we are obviously nearing the Yuletide season.

Nothing beats Christmas celebrations in the Philippines! We spend a lot this season!

I've heard that even the discovered oil in the Galoc property is going to earn 60-40 in favor of the government (in royalties) and it will be cheaper to transport oil from there instead of ports elsewhere. Palawan crude will be still sold at prices indicated by the world market. I just hope the government does not waste this opportunity to have the resources' earnings go to the rightful set of people. They in turn would be able to use the money for the right projects and make our country stable before the 200million barrels of oil run out. I hope that its not the last of it too because they are still exploring of course!

We (the Philippines) by the way have a 7 percent GNP rate last 2007 and it is expected to be higher this year unlike other countries that are in a slowdown. She also urges the business community to report anomalies to the anti-red tape task force. I just hope this just works so lets just be optimistic and cross our fingers and stop complaining too much! lolz! ^_^

COWPhotobucket

4 comments:

RONeiluke, RN said...

hays... that's good news right? at least were still hanging in there inspite of the US recession :)

malapit na nga kapaskuhan! weee!

ayan binisita na kita. hehehe! peace out, mate :)

AngBayani said...

Chrstmas in the Philippines rocks!!!

Hm... Link Exchange?

RONeiluke, RN said...

hays... that's good news right? at least were still hanging in there inspite of the US recession :)

malapit na nga kapaskuhan! weee!

ayan binisita na kita. hehehe! peace out, mate :)

AngBayani said...

Chrstmas in the Philippines rocks!!!

Hm... Link Exchange?