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Archive for November 27th, 2008

Palace cheers 4.6% GDP growth

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By Joel Guinto
INQUIRER.net
First Posted 15:15:00 11/27/2008

MANILA, Philippines – Malacañang said the 4.6-percent growth in the country’s gross domestic product (GDP) in the third quarter is something to “rejoice” about but the government still needs to shield the economy from the global financial crisis.

“We should rejoice, but not too much, [over] this very positive data. We will continue with our vigilance,” Press Secretary Jesus Dureza said in an interview with state-run Radyo ng Bayan from Los Angeles, California.

“These are welcome developments and I’m sure we can sustain this, but we should also not let our guard down because we are anticipating problems coming from other countries,” Dureza added.

At a news conference at the Palace, deputy presidential spokesman Anthony Golez said the contingency measures put in place by the government’s economic team would serve as the country’s “safety valves” against the global crisis.

Golez said the economy’s performance in the third quarter came at the high end of the government’s 3.8 to 4.6-percent forecast and beat analysts’ expectations. The growth also outpaced some of the Philippine’s neighbors in Southeast Asia.

The country’s third-quarter growth was slower than Indonesia’s 6.1 percent, but beat Thailand’s 4.1-percent expansion and showed the resilience of most economies in Southeast Asia, except Singapore, despite the worst financial crisis in decades.

Personal consumption grew a seasonally adjusted 2.0 percent in the third quarter from the previous three months, the highest in at least 13 years, partly fuelled by dollars sent home by Filipino workers abroad to their families.

The government said growth in the fourth quarter was likely to be between 4.0-4.6 percent year-on-year, which means that growth could hit its lowest level since a 4.1-percent expansion in the third quarter of 2005. With a report from Reuters

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Written by joelguinto

Thu+00:002008-11-27T08:28:27+00:00+00:0011b+00:00Thu, 27 Nov 2008 08:28:27 +0000 22, 2006 at 12:45 am11

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Palace advice to pro-impeach solons

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By Joel Guinto
INQUIRER.net
First Posted 12:48:00 11/27/2008

MANILA, Philippines — Malacañang has called on pro-impeachment lawmakers to “acknowledge the democratic and practical realities of the impeachment process” instead of appealing the case before the Supreme Court, dismissing their move as a propaganda ploy to “agitate” the public.

“It would be more appropriate and graceful for the complainants to acknowledge the democratic and practical realities of the impeachment process rather than insisting on involving the judiciary in what can only be seen as an effort to extend the propaganda value of the moribund impeachment complaint and further agitate the public,” Presidential Political Adviser Gabriel Claudio said Thursday.

Voting 42-8, the pro-administration majority in the House of Representatives’ committee on justice junked the latest impeachment complaint against President Gloria Macapagal-Arroyo Wednesday.

Claudio doubted that the planned appeal of Arroyo’s opponents of the committee vote would prosper in the high court.

“The current impeachment complaint has gone the same route as the previous cases and never did the judiciary intervene with a process that exclusively belongs to a co-equal branch of government,” Claudio said in a statement.

Claudio said the pro-impeachment lawmakers were given “ample time” to argue their case, but the charges were found to be “bereft of substance and merit” by the “overwhelming majority.”

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Written by joelguinto

Thu+00:002008-11-27T08:27:13+00:00+00:0011b+00:00Thu, 27 Nov 2008 08:27:13 +0000 22, 2006 at 12:45 am11

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Palace condoles with Mumbai victims

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By Joel Guinto
INQUIRER.net
First Posted 12:13:00 11/27/2008

MANILA, Philippines — Malacañang condoled with the victims of the terrorist attack in India that killed at least 82 people, as it allayed fears that the same incident could happen in the country.

“The entire Filipino nation and Filipino around the world mourn with the families of those who died and were hurt because of the Mumbai attacks,” Deputy Presidential Spokesman Anthony Golez said in a statement.

“We condemn these terrorist attacks against mankind and we will be united with the entire Indian nation and the rest of the world in its quest to end terrorism the soonest possible time,” he said.

National Security Adviser Norberto Gonzales said security forces have not let their guard down, even as the terrorist threat in the country was “low.”

“Just because it happened in India, it does not mean that it could happen in the Philippines. We have been monitoring the situation, and so far, the threat of terrorism in the Philippines is low,” he said.

On Wednesday evening, gunmen stormed hotels, hospitals, a train station, and a popular restaurant in India’s financial capital, Mumbai. A previously unknown group of Islamic militants took responsibility for the attacks.

The last major terrorist attack in the country was in Feb. 14, 2005, when the al Qaeda-linked Abu Sayyaf bombed the cities of Makati, Davao, and General Santos, killing eight people and wounding dozens of others.

On Feb. 27, 2004, the Abu Sayyaf firebombed the Superferry 14 off Manila Bay, killing some 200 people.

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Written by joelguinto

Thu+00:002008-11-27T08:22:33+00:00+00:0011b+00:00Thu, 27 Nov 2008 08:22:33 +0000 22, 2006 at 12:45 am11

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