Although the Arroyo administration has sold and is still selling assets and has increased taxes, we are still deep in debt. From China alone, the Arroyo administration borrowed in recent years $8 billion (that’s billion). In pesos at the time they were borrowed, they were worth P450 billion! Needless to say, hard-pressed Filipino taxpayers will have to pay for them.And what do we have to show for that P450 billion? Probably half of that went to private pockets.GMA also claims in her speeches that poverty and the unemployment rate have gone down. Now we know she has been lying all along. The President lying to her people? Not surprising anymore.Has anybody noticed that corruption has jumped as the Arroyo administration winds to a close? Kickbacks have also increased tremendously. The explanation is simple: Knowing that they would be out of jobs when GMA is no longer President, top government officials are providing for their future. Knowing that this or that character got so much in kickbacks, succeeding commissioners demand bigger and bigger kickbacks. It was a case of oneupmanship. And immoderate greed. GMA officials’ motto seems to be: “Take as much as you can while the getting is good. Time is running out on us.”
Written in blunt terms, the report appeared to contradict the Philippine government’s position calling on the public to ignore mounting criticisms over corruption scandals rocking the administration of President Macapagal-Arroyo and focus instead on the high economic growth rates over the past few years, topped by the 7.3-percent growth of the gross domestic product (GDP) in 2007, the highest in three decades.
The book in pdf format can be found at the links below, go see for yourself....... unless you still want to "believe" in the lies and deception of Lady ZTE then ignore the report.
Philippines: Critical Development Constraints
Prepared by the Economics and Research Department, is the first report in the department's Country Diagnostics Studies. It identifies the critical constraints to growth and poverty reduction in the Philippines, and discusses policy options for addressing the constraints.
Philippine Politics Gloria RESIGN Blogswarm