Press Release
May 29, 2009

CHIZ URGES GOV'T TO PRIORITIZE ECONOMIC CRISIS

Opposition Senator Chiz Escudero yesterday chided the administration for basking in the "glow of election politics" while the country faces tougher economic times ahead.

Escudero said the government should be preparing the country brace for an inevitable financial slowdown as the World Trade Organization (WTO) predicted the biggest trade slump this year.

"Even as government soothsayers say that the worst is over for unemployment in the Philippines, the WTO warns that the global economic growth will fall this year. We can expect more job losses as economists expect our exports to further drop," Escudero said.

The senator also said the country's economy grew way below expectations at only 0.4% in the first quarter from a year earlier, as analysts say the global downturn has pounded the country's manufacturing output and trade.

He criticized the administration for engaging in election politics this early when the country is in dire need of government attention, like finding ways to generate more jobs in this time of financial crisis.

"As the economy reels from the global economic slowdown, our government seems to be enjoying the election revelry," he said. "There are more important things to do than flex loose muscles in time for the 2010 elections. This only shows how this administration sets its priorities, which seems to me is how to stay in power."

The administration, he said, should instead focus its last remaining days in office to address the growing number of Filipinos being laid off due to the economic crisis worldwide.

So far, Escudero said, the government's economic stimulus package has yet to produce any favorable result. "The people have suffered enough from this administration, which has been plagued by allegations of corruption and abuses in power. It is time it does its job," he said.

"Instead of wasting media mileage for an empty show of force, the administration should work quietly to address pressing concerns," Escudero added.

News Latest News Feed