Press Release
May 31, 2013

Cayetano Praises Gov't for 7.8% GDP Growth
Should Inspire Government to do more

Senator Alan Cayetano today commended the government for achieving a 7.8% increase in Gross Domestic Product (GDP), the highest since President Benigno Aquino III took office in 2010. The Senator added that this economic growth should serve to push everyone to keep the momentum going for the betterment of all Filipino families.

"We praise the continuing economic growth of our country but we should ensure that the effects of a rising economy translate to a betterment of the lives of poor families throughout the country," Cayetano said. He added that " not enough Filipino families are feeling the impact of this economic growth. We must do more to create jobs, lower prices, and increase wages."

Cayetano who recently placed 3rd in the 2013 senatorial election campaigned on a platform of PTK (Presyo, Trabaho, Kita) to reduce prices, create more and better jobs and raise incomes of Filipino families.

He further called on the Government to provide more access to capital for the poor to start their own small businesses as a productive source of livelihood. "By developing cooperatives with the capacity to lend capital to its members, we are enabling more Filipinos to start their own small businesses and eventually provide more employment opportunities for other Filipinos," he said.

Cayetano also suggested that the government use the existing Conditional Cash Transfer (CCT) program to enact a capital-lending program its beneficiaries to enable them to set up their own businesses.

"By using the Conditional Cash Transfer (CCT) program to implement a lending program, we can provide poor families with the capital to start their own businesses and create jobs with fair wages," said Cayetano, "In this case, we're showing them how to 'fish' and stand on their own two feet instead of just giving them 'fish' and making them dependent on welfare," he said.

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