Aquino's Administration achievements so far

Philippines has undergone a radical transformation

Aquino administration’s reform agenda (2010-2016): If we can rid the country of the culture of corruption, then we can alleviate poverty and collectively move forward to secure an equitably progressive Philippines.

Economic progress under the Aquino Administration includes:

·         2012, the Philippines recorded one of its strongest years for growth, surpassing all expectations; the first quarter GDP of 2013, recorded at 7.8%, further raised the bar among the community of nations and exceeding even our growth trend.

·         2014 as the banner year for net FDIs (foreign direct investment), which reached an all-time high of $6.2 billion, 65.9% higher than in 2013.

·         From 2010 to 2013, the Philippines averaged a GDP (gross domestic product) growth of 6.3%, compared to the 4.3% average of the previous administration.

·         In spite of the lingering effects of Typhoon Haiyan (Yolanda) and uncertainty in the global economy, GDP growth was at 6.1% in 2014.

·         Upgrade to investment grade by all 3 major credit ratings agencies in 2013, and continued credit rating upgrades ever since

Achievements:

·         Lead credit ratings agencies have placed the Philippines at the investment grade level, even as they predict continued favorable economic prospects for our future.

·         Social services continue to receive the highest share of the national budget, with social intervention and protection programs at the core of our poverty reduction thrust.

·         allowed the national government to channel funds to the most immediate needs of the public—into programs that include massive investments in social services, health, and education, in order to enhance and empower our human capital, which then encourages expansive, equitable growth.

·         the fiscal managers made improvements in tax administration.

·         Rising to investment grade represents a unique climb in economic respectability for the country. Its investment prospects are enhanced. The cost of borrowing also is reduced. Moreover, it increases positive perceptions about the country’s economic prospects.

·         The fight against corruption was the signal effort of the government with respect to the improvement of accountability in public office. At first, the target of the anti-corruption campaign was against specific mis-governance in specific agencies. Eventually, the most serious cases were traced to actions within the Office of the President in the previous government.

·         The impeachment and removal of the chief justice of Supreme Court was another signal moment in this campaign.

·         the pork barrel plunder cases – ( the PDAP ) – exploded in the public consciousness leading to the filing of plunder charges against three senators of the Republic.

References: www.gov.ph/aquino-administration/ http://www.rappler.com/business/economy-watch/87802-aquino-ph-economic-growth http://www.philstar.com/business/2014/06/18/1335914/president-noynoy-aquino-assessment-midstream