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try to consider what have been laid down in her latest SONA and the daily pressures from various sectors of the society and even in the international scene.

2006-12-08 12:57:58 · 1 answers · asked by Anonymous in Social Science Economics

1 answers

Arroyo, a practicing economist, has made the economy the focus of her presidency. Economic growth in terms of gross domestic product has averaged 4.6% during the Arroyo presidency from 2001 up to the end of 2005. This is higher than previous recent presidents when compared to the 3.8% average of Aquino, the 3.7% average of Ramos, and the 2.8% average of Joseph Estrada. Inflation during the Arroyo presidency has been the lowest since 1986, averaging 5.3%.[6] But the result is pretty different if you consider the contribution of the OWFs, who send money from abroad in order to support their families. "...the poverty situation (has) not improved" (The Manila Times, October 24, 2006). 2006 the budget returned to a deficit of P 16.2 billion.

Late in 2001, Arroyo implemented her new policy which is officially called "Holiday Economics". Under this policy, the government will adjust holidays to form longer weekends (Example: If June 12 — Philippine Independence Day — is a Wednesday, the holiday will be moved to a Friday or a Monday to connect with the weekend). The primary purposes of this policy to strengthen the national economy through tourism and travel, and to give Filipinos more time to spend with their families. Holiday Economics began as an 11-day holiday in late 2001 from December 22, 2001 until January 1, 2002. The extensive holiday alienated businessmen, workers and even sparked criticism among politicians. Among her allies who became critical of Holiday Economics was former president Fidel V. Ramos, who cited the loss of productivity as crucial as well as the fact that workers get deprived of their earnings. The policy went into full force in 2002 although critics claimed that it unnecessarily breaks certain traditions (Example: Labor Day must only be celebrated on May 1). Businessmen often complained that the government was always too slow and too late to announce when the holidays will take effect. To this day, people demand that a full-year schedule of holidays be released during the year before so that appropriate calendars can be printed well in advance.

While Arroyo's holiday policy is often portrayed as a booster for tourism, Filipino columnist Nini Cabaero stated that Holiday Economics is actually the president's political tool to appease her critics [1]. Cabaero emphasized this by looking at the facts that Arroyo declared a holiday in Metro Manila the same day she gave her 2005 State of the Nation Address. Her article suggested that the holiday was meant to minimize people from getting involved in rallies organized against the administration.

2006-12-09 15:00:07 · answer #1 · answered by az helpful scholar 3 · 0 0

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