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Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration.Despite this growth, poverty worsened, because of a high population growth rate and inequitable distribution of incom e.AQUINO's first budget emphasizes education, health, conditional cash transfers for the poor, and other social spending programs, relying on the private sector to finance important infrastructure projects.Weak tax collection, exacerbated by new tax breaks and incentives, has limited the government's ability to address major challenges. Justice Secretary Leila de Lima had twice asked for an extension for the submission of Napoles’ expanded affidavit. “I presume since we have been waiting for this for so long, that this is it,” Guingona said. Copy of Napoles Affidavits from DOJ RELATED STORIES Senate finally receives Napoles’ long list Napoles had sex? Guingona, whose staff picked up copies of the affidavits from the Department of Justice, said he would await the submission of Benhur Luy files before deciding when to resume the inquiry into the pork scam.
The economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a growing business process outsourcing industry.The BSP earlier set a deadline for January 1, 2017.Read: 'Old'-generation peso bills lose monetary value starting January 1The BSP reminds the public that they can exchange old notes at any bank and they do not need to have an existing account to trade old notes for new ones. Enrile, Juan Ponce and agents “Dona Senora” Ruby Chan Tuazon, Lucila “Gigi” Reyes, Tet de Joya, Freddie Villamor, and Butch Tuazon 4. Villar, Cynthia and agent Arman Padilla (Minority Block) 18. Escudero, Francis Chiz with no agent The representatives, current and former, that were named on the list are: 1. AGARAO, BENJAMIN | CATHERINE MAE “ma’am Maya” CANLAS SANTOS 3.
ANGARA-Castillo Be Harlot | ARMAN PADILLA (Minority Block) 6. The AQUINO administration has vowed to focus on improving tax collection efficiency - rather than imposing new taxes - as a part of its good governance platform.