Noy says reforms helping economy

MANILA, Philippines - The Aquino administration’s reform program to re-establish a culture of integrity in government has earned the country economic progress and respect from the international community.

President Aquino yesterday assured the business community that he is committed to sustain the reforms he initiated to be able to attract and keep long-term investments.              

He said he is the kind of leader that would “pick” rather than kick the can and let his successors clean up the mess.

“We talk of sustaining growth because the Philippines is in for the long haul, and we owe it to the future generations to bequeath a country that is better off than when we arrived. This entails making difficult choices,” Aquino said in a speech during the 2nd Integrity Summit held in Makati City.

“There is the right way to do things, and it is not always the easy way. Often, we are faced with the option to take a shortcut, which might attain positive short-term results, but sets the tone for a bigger problem that will have to be addressed down the line,” he said.

Aquino said he is faced with a choice as a leader during these challenging times.

“I can just kick the can down the road, and let the next set of leaders deal with this problem. After all, the politically prudent thing to do would be to not rattle the cage, to not make any noise about something that is, at the moment, not yet an issue,” he said.

“But as a friend of mine said, my mindset and the way I do things, is not very typical of politicians. I prefer to pick up the can rather than kick it down the road. I’m here to solve problems, and I believe a person of integrity is also a person of foresight – he will not pass on a problem to someone else when he can solve it himself. So that is why my administration is studying creative solutions to all of these challenges, and hopefully we can find a way to make these problems gone in the shortest possible time without burdening our taxpayers unreasonably,” he said.

The President hopes that whoever will replace him will be a person of foresight – someone who definitely will not kick the can down the road, but one who will solve problems, and fortify the culture of integrity that he is building now.

He said the concrete results of his reforms would prove they were right in fighting corruption so funds could be used for infrastructure and social service projects.

Aquino said higher government spending propped up the Philippine economy to high levels despite challenges.

He said last year he reported moves to bring integrity back in government by “appointing good people to key posts, reforming budget process, and promoting transparency in bidding processes.”

He also urged private entities to engage more actively in nation-building through corporate social responsibility, and clean, honest and efficient entrepreneurship.

He said because of the reforms implemented since he assumed office two years ago, “we have garnered, so far, eight positive credit ratings actions, and two of the three major credit ratings agencies rank us one notch away from investment grade.”

He added that the Philippines ranked 65th of 144 economies listed in the World Economic Forum’s Global Competitiveness Report.

“This comes after two consecutive 10-place jumps in two years – clearly indicating that we must have been doing the right thing since we came into office,” the President said.

Aquino also said the country’s targeted gross domestic product (GDP), the market value of the goods and services produced by a country, for the entire year is within reach.

This after second quarter figures showed the country’s growth at 5.9 percent, well above the average market forecast of 5.3 percent and the government’s projection of five to six percent.

The President noted that because of the country’s sterling economic performance, the government has been able to channel these gains into projects and programs that would make the country even more competitive.

“Our budget for social services has seen a steady, upward trend since we took office. P698.8 billion of the proposed P2-trillion national budget for next year have been allocated towards social services, 13.9 percent higher than this year’s P613.4 billion,” he said.