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Dominguez says Pinoys should thank Duterte for creating strong economy which can absorb COVID’s blows

"Ang growth ho natin from 2016 ay average 6.4 percent. ‘Yung collection natin ng income ng government ay --- is the highest in 22 years as a percentage of our growth. Ang utang ho natin is --- has gone down to the lowest it has been in terms of percentage to GDP (gross domestic product) and it’s only now 41.5 percent. Dati ho 70 percent of GDP ‘yan. Ang inflation ho natin bumaba na. So it’s --- last month it was two and a half percent and it is within our target of two to four percent," he added.

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Finance Secretary Sonny Dominguez said Filipinos should be grateful to President Rodrigo Duterte for insisting on a “conservative” economic policy during the first four years of his term.

“Mr. President, you have created an economy that can stand a hard-hit and I think the Filipino people should thank you for your very conservative economic policies,” said Dominguez in a press briefing presided by Duterte on April 8.

Dominguez said Duterte’s directive to shore up tax collections, curb spending, borrow less and keep prices of basic goods and services low have proved has been a godsend in this time when the Philippines was faced with one of the worst pandemics in history.

“Noong pumasok kayo noong 2016, ang order niyo ho sa amin is to manage the economy for the welfare of the Filipino people. Ang ibig sabihin nun, lahat ng collection natin ng taxes should be collected efficiently at lahat ng gastos natin should be very conservative and really huwag tayo mag-waldas ng pera. So ang resulta ho noon ay maganda ‘yung position ng economy natin so kaya even though we have a bad — a bad luck to have this COVID-19, we are very well-prepared,” fawned Dominguez.

“Ang growth ho natin from 2016 ay average 6.4 percent. ‘Yung collection natin ng income ng government ay — is the highest in 22 years as a percentage of our growth. Ang utang ho natin is — has gone down to the lowest it has been in terms of percentage to GDP (gross domestic product) and it’s only now 41.5 percent. Dati ho 70 percent of GDP ‘yan. Ang inflation ho natin bumaba na. So it’s — last month it was two and a half percent and it is within our target of two to four percent,” he added.

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