Palace warns of gloomy economy if wrong leader is elected

Malacañang yesterday urged the electorate to choose the right person this coming May polls to sustain the economic gains by the Aquino administration’s “Daang Matuwid” (straight path) and avoid reverting back to uncertainty.
Standard & Poor Ratings Services affirmed the country’s ‘BBB’ long-term and ‘A-2’ short-term sovereign credit ratings of the Philippines, citing the country’s strong external position, its big foreign reserve and low external debt.
But Standard & Poor’s warned that the country’s ratings could drop if there is a slowdown in the government reform agenda or reverse the current economic gains.
The Philippines has improved its credit standing and this reflects in the domestic loans that became favorable to consumers, Undersecretary Manuel Quezon III of the Presidential Communications Development and Strategic Planning Office (PCDSPO) yesterday told a radio interview.
Standard & Poor’s is right in its cautioning note because the country made great efforts to attain such high credit rating, Quezon said.
As the new administration takes office in the middle of this year, Quezon said it is free to alter, reverse or amend the existing economic government policies.
The country’s high ratings aren’t infinite and they must be nurtured and protected because they are based on a track record. And if these ratings are taken for granted, there will be consequences, he said.
“So, it’s a timely reminder to all of us to vote on the basis of a responsible frame of mind,” Quezon stressed.
President Aquino has been encouraging the people to support administration candidates to ensure the continuity of his “Daang Matuwid” reform agenda.
‘Pilipinas’ presidential debate
He also encouraged the people to watch the third and final presidential debate in Pangasinan on Sunday to know who’s the best to lead the country in the next six years.
Quezon said the presidential debate will heighten social discourse to give the voters the best option about their choice of new leaders.
Two weeks before the May 9 elections, the five candidates for the highest office in the land will again try to win more votes in the final PiliPinas Debate at the Phinma-University of Pangasinan in Dagupan City.
Among the expected participants will be Vice President Jejomar Binay, Sen. Miriam Defensor Santiago, Davao City Mayor Rodrigo Duterte, Sen. Grace Poe and former Department of Interior and Local Government Secretary Manuel “Mar” Roxas II.
Ordinary people could ask the candidates about urgent issues affecting them in a town hall debate organized by the Commission on Elections, the Kapisanan ng mga Broadcasters ng Pilipinas (KBP), ABS-CBN and Manila Bulletin.
A number of issues to be tackled include free basic education, OFW concerns and employment opportunities, the maritime dispute with China, peace in Mindanao, Metro traffic and the public transportation system, basic health care, jobs and unfair labor practice.                                                     

Related posts