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News Feature
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PGMA says economic reforms saved RP from crisis
TUESDAY, DECEMBER 2, 2008
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ECONOMY
HONG KONG (via PLDT) -- President Gloria Macapagal-Arroyo said today the ''painful economic reforms'' she carried out during the early part of her administration have worked well for the Philippines to weather the present economic slowdown.
''It is very important for us to make sure that the global crisis will not become a crisis in our country but in order to do that, we need to have resources and if we have not made hard choices several years ago to raise revenues, but since we did, we have addressed the challenge,'' the President told the Clinton Global Initiative (CGI) Asia Meeting at the Grand Hyatt Hotel here.
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