Little fanfare as P-noy marks 2nd year in office

There will hardly be any fanfare as President Aquino marks his second year in office today but Malacañang released excerpts of a book saying the Chief Executive was leading the Philippines to become the next “tiger economy.”

In his book “Breakout Nations: In Pursuit of Next Economic Miracles,” Ruchir Sharma wrote that “at long last the Philippines is on the road to becoming part of the elite group of tiger economies” primarily due to the leadership of its new president.

Deputy presidential spokesperson Abigail Valte said there were no scheduled activities for today unlike last year when

the President had a town halllike meeting to discuss what he had done so far.

Valte and presidential spokesman Edwin Lacierda earlier said the President would discuss his achievements and his plans for the country during his State of the Nation Address on July 23.

But the Palace and even the President himself had been citing various good news as the administration marked its second year, including improved social services, more infrastructure projects and better economy.

Yesterday, Malacañang released Sharma’s observations in his book, starting with the title: “The Philippines is no longer a joke.”

“Now at long last, the Philippines looks poised to resume a period of strong growth. The president, Benigno ‘Noynoy’ Aquino III, probably has enough support, and looks likely to generate just enough reform momentum, to get the job done. The Aquino name is still virtually synonymous with the promise of change,” Sharma said.

Sharma said Aquino was originally dismissed in foreign circles as an unimpressive 51-year-old bachelor who had lived most of his life with his mother and had not made much of a mark in a low-profile career as a Philippine senator.

“However, Filipinos saw him as an honest figure who could deliver on the Aquino mandate for change and they were desperate after nine years of drift and decay under outgoing president Gloria Macapagal-Arroyo,” Sharma said, adding that following his mother Corazon’s death in 2009, Aquino won the presidency on a wave of public sympathy.

“His victory margin was unprecedented and his task daunting at a time when it seemed like the whole country was in disrepair,” Sharma said.

Officials have been citing foreign reports noting that the Philippines can be resilient amid the global financial crisis due to the situation in Europe and the United States.

The Palace cited a Wall Street Journal report saying only four economies were projected to weather the European economic and financial crisis – Australia, China, Indonesia and the Philippines.

“The Philippines is better prepared than in the past to withstand a downturn with a stronger government balance sheet and a robust domestic economy. Foreign reserves are high enough to fight capital flight,” the WSJ said.

The WSJ said other countries like Singapore, Malaysia, Thailand and Vietnam would feel the brunt of the euro meltdown due to their exposure to European banks and trade as well as investments.

Protest

Meanwhile, labor centered Kilusang Mayo Uno yesterday condemned President Aquino for allegedly making the condition of workers and the poor even worse on his second year of presidency.

KMU marched with other organizations under the umbrella group Bagong Alyansang Makabayan to Mendiola, citing the acronym “P-NOY” as “Pahirap, Nanlilinlang, Oo nang oo sa Kano, and Yumuyurak sa karapatan.”

“Workers’ wages are more depressed than before, contractual employment is more rampant, and joblessness is more widespread. Workers do not have anything to celebrate after Aquino’s two years in power,” said Elmer Labog, KMU chairman.