Arroyo’s Xmas wish: Optimistic Pinoys amid economic slowdown

MANILA, Philippines – President Gloria Macapagal Arroyo on Wednesday said her Christmas wish is for Filipinos to have an "unshakable hope and optimism" for the nation to be united in overcoming the challenges of the global economic crisis. The President talked about her Christmas wish during the one-on-one interview with Rey Maraunay of DXCC-RMN at the VIP Lounge of the Lumbia Airport in Cagayan de Oro province Wednesday morning. She expressed elation that in the midst of the current world recession roiling other economies worldwide, the Philippines remains “an island of calm.” “So I wanted to bring the message of hope and optimism na sana sa pagpasok ng New Year we are all united so we can overcome the world economic crisis and bring prosperity to our nation,” President Arroyo said. She said that by coming together as one nation, Filipinos would demonstrate the shared strength and resilience in the face of the gloomy world economic prospects next year. The President expressed confidence that the Philippines would be able to weather the global economic storm, thanks to the big revenue surplus generated by tax reforms instituted by her administration, notably the Expanded Value Added Tax (EVAT). The EVAT proceeds is to be mobilized to spur the economy next year. - Aie Balagtas See, GMANews.TV