President Gloria Macapagal-Arroyo said that these “unpopular” economic reforms, which the Arroyo administration initiated, made the country resilient in the midst of global economic crisis.
The reforms helped the country maintain a positive growth for 34 uninterrupted quarters of her administration, as the Philippine economy grew 1.5 percent in the second quarter. Data showed it grew up from 0.4 percent hike in the first quarter, as public spending helped avoid a projected contraction.
The President said the country is ready for economic rebound and its major strength is an attractive investment and business destination. (PIA/ESS)
