Economic managers cite gains under FVR
Economic managers of President Ferdinand Marcos Jr. cited the gains during the administration of the late President Fidel V. Ramos wherein the Philippines emerged as one of the “tiger economies” in Asia.
Socioeconomic Planning Secretary Arsenio Balisacan said the National Economic and Development Authority (NEDA) would continue to honor and build on the legacy of the late president as it pursues the country’s long-term vision of a strongly rooted, comfortable, and secure life for every Filipino.
“While in the academe, I saw firsthand and closely followed how his economic and social reform agenda, which centered on opening the economy and people empowerment, paved the way to foundational economic transformation,” Balisacan said as he expressed his hearfelt condolences to Ramos’ family.
Balisacan, who also served as Socioeconomic Planning Secretary and NEDA director general during the term of the late President Benigno Aquino III, said Ramos provided the country with much-needed stability against threats from within.
“He was also a visionary. His foresight and steadfastness enabled the Philippines to weather the 1997 Asian Financial Crisis and be among the continent’s Tiger Cub economies,” Balisacan said in a statement.
On the other hand, Budget Secretary Amenah Pangandaman said in a separate statement that the officials and employees of the Department of Budget and Management (DBM) wish to express their heartfelt condolences to the family and friends of the late president who passed away last July 31
Ramos served as the 12th President of the Philippines from 1992 to 1998. Under his vision “Philippines 2000,” the Philippnes became the “tiger economy” in Asia.
According to Pangandaman, the late president was widely credited for spearheading economic reforms in the country.
“We remember President Ramos as a strong and decisive leader under whose administration government budgeting took on the mission of becoming an instrument for economic growth,” she added.
In 1992, the Medium-Term Philippine Development Plan of the Ramos administration made improving the quality of life of every Filipino its development vision.
“As tributes pour in remembering the legacy of the former President, we will honor him by continuing to work hard to achieve our common dream of a better nation for all,” Pangandaman said.