"The economy is in bad shape largely because of the soaring budget deficit and unabated borrowings. The prognosis for next year and 2004 is that it will be worse, and that will take its toll on Mrs. Arroyo’s ratings," said House Minority Leader Carlos Padilla (LDP, Nueva Vizcaya).
Padilla said the budget deficit will rise further because the Bureau of Internal Revenue and the Bureau of Customs will continue to have difficulty meeting their collection targets.
Without any direct allusion to the survey results, Mrs. Arroyo yesterday said she merely "inherited" the sad realities affecting the country today.
Mrs. Arroyo also sought to assuage the prevailing pessimism generated by the survey by reporting out potential new jobs and improvement in the country’s economy that came out from the accomplishments of her just concluded four-day visit to Japan.
The President rendered her report of her latest trip to Japan, the third since assuming office in January last year, in a speech after handing out trophies to the winners of this year’s Philippine Quality Awards in ceremonies held in Malacañang yesterday.
Mrs. Arroyo made the assurances a day after she arrived home from Japan and was welcomed by news from Pulse Asia of her dipping popularity ratings.
Pulse Asia said Mrs. Arroyo’s performance and trust ratings dropped to 45 percent last month from 54 percent in July.
The survey also showed the President’s trust ratings fell as respondents reported that their family’s quality of life deteriorated over the past 12 months. The respondents also said they were pessimistic about the future. – With Perseus Echeminada