The bible of Philippine politics

GMA: PH to enjoy ’40 golden years of prosperity’ like China

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POLITIKO - The bible of Philippine Politics

House Speaker Gloria Macapagal Arroyo on Tuesday said the Philippines may enjoy “40 golden years of prosperity” like China if it continues on a path of good economic policy.

“If we do as well in the following 2 decades after that, the Philippines might very well enjoy its own 40 golden years of take-off to prosperity, just as China had its 40 golden years of progress from the time of its opening to the world in 1978, to its eminent position today,” she said.

The former President made the remark during her keynote speech at the Boao Forum for Asia held at Shangri La at the Fort in Bonifacio Global City in Taguig City.

In her speech, Arroyo said the most pressing concern of the Philippines remains poverty reduction.

“I imagine that for China 70 years ago, when it first began its march to modernity in 1949 under the Communist Party of China, poverty too, was its pressing concern,” she said.

“But the Philippines is now poised to achieve a reduction of poverty incidence from the 39 percent level that I inherited when I assumed the Presidency in 2001, down to 14 percent by the time our current President Duterte’s term ends in 2022,” she said.

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