Team Aquino acknowledged GMA did well economically during term

PNS — THE Aquino administration’s economic managers have acknowledged that the Arroyo administration managed the economy well in its nine-year term, an official said Friday.

Finance Secretary Cesar Purisima and Bangko Sentral Governor Amando Tetangco Jr. conceded the good job done by former President Gloria Arroyo during the first hearing on the proposed P1.64-trillion national budget for 2011 by the House of Representatives’ Committee on Appropriations, House Minority Leader Edcel Lagman said.

He said Purisima and Tetangco cited the country’s strong economic fundamentals, the proof of which was the 7.9-percent economic growth in the first six months.

“There is no lackluster economic performance as they [the Aquino administration] have been alleging,” Lagman said following the presentations by Purisima and Tetangco and the Aquino administration’s other economic managers before the committee.

“The figures, data and statistics could not be denied,” Lagman said.

“In other words, the previous administration did not bungle the economy. We have good economic fundamentals which had been left behind by the previous administration and, hopefully, this will not be reversed by the present administration.”

Deputy Minority Leader Danilo Suarez said the figures presented by Mr. Aquino’s economic managers showed they inherited a sound economy.

“How [President Arroyo] managed the government and the economy—Filipinos will give a positive yes,” Suarez said.