Press Release
November 29, 2006

On 3rd Quarter Performance of the Economy

Commenting on the economic performance of the country during the 3rd quarter of the year as presented by National Economic and Development Authority Secretary General Romulo L. Neri yesterday, Senator Mar Roxas said that the economic figures for the period would have been different had the government not been distracted by political things such as the Cha-cha.

Roxas explained there must be a recognition that the governments most important programs for job generation and poverty reduction as presented by Secretary Neri address the symptoms of our economic problems and that the common theme that runs through them really is the lack of or the need for good governance.

Take for instance the wide gap between savings and investment. We have now a high savings rate but still a very low investment rate. Why? Its because our people dont like to take an equity or principal posture in our economy because of the lack of or the need for good governance, Roxas said.

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