Worst is over for RP — GMA

President Arroyo said yesterday the Philippines has just weathered an intense political and economic storm, attributing part of the success to her leadership and the presence of US troops.

"Yes, the worst is over from the point of view of political stability and the economy. Because we’re more stable now, we can now focus on work to be done on how to make the poor feel the development," the President said in a special edition of "Isyu" on ABS-CBN television Thursday night.

Mrs. Arroyo noted that with the coup jitters gone, businessmen who had taken a "wait-and-see" attitude have begun pouring in new investments.

"Investors all waited for Jan. 20 to see if the rumors were indeed true, but the coup did not take place," she said.

The President conceded that much of the improvement in the economy and the stock market was due to the arrival of US troops for the annual Balikatan military exercises, which were, for the first time ever, extended to strife-torn Mindanao this year.

"It’s a combination of the arrival of the Americans and my political leadership," she said. "Balikatan could have been my finest hour or my downfall. And I took the risk."

Mrs. Arroyo stressed that the sources of instability that led to coup rumors are all gone.

"This is why there is no more wait-and-see in the stock market. There is now full mobilization of investments. Bumubuhos (It’s pouring)," she said.

The President admitted that for a while, the coup rumors caused a slight slowdown in the stock exchange — the main indicator of the state of health of any economy.

"After that, our economy really rose as we have seen in the stock market. No less than Bloomberg noted that the PSE (Philippine Stock Exchange) as the best performing stock market in the world," she said.

Mrs. Arroyo said that during her eight-day swing to Britain, Canada and the US last week, the international business community cited her creditable performance in handling the Philippine economy amid a global slowdown.

The President said other notable indicators include the 3.7 percent growth in the Gross National Product last year, the singe-digit inflation and interest rates and the return to stability of the peso against the dollar.

"Even our credit ratings show that we’ve improved from negative to stable," said Mrs. Arroyo, who credited her economic team for helping her administration achieve the country’s economic targets.

Still ‘mataray’

President Arroyo admitted that she has failed to live up to her New Year’s resolution to keep her temper in check. But she remains unrepentant because she is naturally "mataray."

"The intrigues that I’m mataray, it’s okay by me. I don’t give much attention to that. Although as I said, of course, every New Year, it’s our custom to look for a worst trait you want to change. That’s always been my New Year’s resolution, not to lose my temper," she said.

Interviewed in the special edition of "Isyu" talk show on ABS-CBN Thursday night, Mrs. Arroyo said she has been trying hard to succeed year in and year out to fulfill her New Year’s resolution but to no avail.

"But nonetheless, it doesn’t really bother me if I’m criticized because of that," she said.

The President conceded that she is more mataray when she is tired. "That’s true but I really have a very strong personality," she admitted. "But being mataray, I plead guilty."

Even the possibility of having grandchildren following the scheduled wedding this year of her eldest son, Pampanga Vice Gov. Juan Miguel "Mikey" Arroyo, and Angela Montenegro, won’t sober her being mataray, the President said.

"Probably not," she said. "Of course, I’ll be happy if my grandchild is cute."

Mrs. Arroyo displayed her much vaunted temper while in London last week, sending her immediate staff into a tizzy.

Her close-in photographer Gerry Carual was nearly sent back home prematurely over a miscommunication with presidential protocol officers regarding camera equipment.

Carual was about to take the flight out of London to Manila via Dubai when the President, who was then already in Ottawa, wondered why a Canada-based hobbyist photographer was taking her picture using an instamatic camera.

In the ensuing frenzy, Carual was recalled from London to instead proceed to Toronto to rejoin the presidential party.

Mrs. Arroyo also walked out of her own press conference with the "media fellows" at the World Economic Forum when she noticed that she did not have a copy of her prepared speech.

Irritated, she looked for her lady aide to castigate her for the oversight.

But when the President was told that she did not have to make any speeches, she nonchalantly went back to the conference table.