WB report proves Noy is 'home' in anti-corruption drive allies

Manila, Philippines - The World Bank report citing the administration’s anti-corruption campaign proves that President Aquino “is home and is doing his job,” his congressmen-allies said yesterday.

Eastern Samar Rep. Ben Evardone said the report disproves the claim of the President’s critics that “nobody is home” to steer the ship of state, which they allege is adrift.

“Prospects for our country’s economy are really looking good with the unwavering moves of P-Noy to stamp out corruption. But P-Noy can’t do it alone. All sectors of society should rally behind his campaign to sustain investor confidence to generate job opportunities for our people,” he said.

He said all segments of the bureaucracy, including the judiciary, and business and the society in general should “capitalize on the positive outlook of the World Bank, credit rating agencies and other international institutions to boost productivity and employment.”

“We should sustain the momentum of good governance and economic growth for the benefit of our people,” he added.

Cavite Rep. Joseph Emilio Abaya said the World Bank report “is reflective of the fact that the President has a real vision for the country that is doable and bears fruit, and not just a fairy tale or, in the colloquial, kwentong kutsero (tall tale).”

“It is just unfortunate or people are just playing blind and have no other relevant issue to raise when the World Bank talks about the good news while those who want to discredit the President talk about nobody’s home. They just didn’t take care of our home when they were in charge,” he said, apparently referring to the previous Arroyo administration.

Evardone and Abaya are party mates of the President in the Liberal Party.

For his part, Rep. Sherwin Tugna of the party-list group Citizens Battle Against Corruption said the administration’s anti-corruption campaign has greatly boosted investor confidence in the country.

“Investors now find it easier to do business here because there is a government system that is less graft ridden and more predictable in its policies,” he said.

According to the World Bank’s June 2011 quarterly report, the country’s growth prospects this year and next year are bright, with the administration’s anti-corruption campaign seen to further perk up investor interest.

It said gross domestic product (GDP) growth “could potentially be higher as the strong focus and early gains of the Aquino administration in tackling corruption and improving the investment climate could boost domestic investment.”

“Investments, private consumption and the services sector are expected to strengthen” and help the government achieve “inclusive or broad-based growth that benefits the poor,” it said.

The World Bank projected GDP at 5.0 percent this year and 5.4 percent in 2012.

Private consumption is expected to increase as more Filipinos receive higher wages or get employed in good-paying industries like business process outsourcing, the WB report said.

In the report, WB Country Director Bert Hofman said the nation’s performance “indicates that the country’s economy has already stabilized since the global financial crisis, with more robust and less variable growth.”

“The November 2010 upgrading of the country’s sovereign foreign currency rating by Standard and Poor’s and a similar upgrade by Moody’s this June are testaments to this significant improvement,” he said.

He challenged the country’s leaders to “ensure that growth is more inclusive or one that all citizens participate in and benefit from.”

This, he said, requires “enhancing the income-earning opportunities of the poor as well as assist households to participate in markets by enhancing their human capital.”

He said greater efforts should be exerted in improving access to education, health, and social protection services, particularly in the poorest regions.