President Aquino promises more reforms to help country's poor - 22Jul2013

MANILA: In his annual State of the Nation address on Monday, Philippine President Beningno Aquino said his administration has reined in corruption but stressed more reform was needed, especially on policies to help the country's poor.

Addressing the Senate and the House of Representatives in his fourth State of the Nation address, President Aquino boasted how his administration's anti-corruption efforts have transformed the Philippines.

After three years of laying down reforms, the country's economy improved significantly.

President Aquino said: "We are now considered a rising tiger by the World Bank; the brightest spark, according to the Institute of Chartered Accountants in England and Wales, among other accolades that allude to the transformation that is sweeping our nation.

"From the prudent expenditure of funds to the effective collection of taxes; from infrastructure development to the transparent conduct of business that generates jobs, our message to the world could not be clearer: the Philippines is ready to ride the tides of progress."

Despite a period of lethargic global economic activity, Philippines managed to register an impressive 6.8 per cent GDP growth in 2012.

It surpassed that figure in the first quarter of 2013 when it recorded a 7.8 per cent growth in GDP to become the fastest growing economy among Asian countries.

President Aquino then promised to ensure that the country's economic gains will be felt by all.

"Widespread opportunity is the key to comprehensive and sustained progress. Let us not forget that these opportunities are but seeds. We must water them with diligence, nourish them with determination, and cultivate them with dedication," he said.

President Aquino said the government's objective is to expand the reach of the Conditional Cash Transfer Program as the number of household beneficiaries rose from 700,000 in 2010 to almost four million households in the three years of his administration.

He now faces the daunting task of creating more jobs and attracting more investments to sustain the country's positive economic performance.

With only three years left remaining in his term, President Aquino needs to work doubly hard to make sure that the country's economic growth will translate into a better quality of life for millions of poor Filipinos.