Budget secretary answers Arroyo, calls her ‘huge failure’

MANILA, Philippines—A member of President Benigno Aquino’s Cabinet called Gloria Macapagal-Arroyo “a huge failure” on Friday, a day after the former president released a statement  slamming her successor’s alleged shortcomings since assuming power in 2010.

“Repeatedly, the performance of her government, the economic as well as the political, has been exposed as a huge failure over the … nine-and-a-half years” she was in power, Budget Secretary Florencio Abad told reporters in an interview.

“She was given the rare opportunity through People Power to lead differently but she turned her back on her big opportunity. We ended up suffering from those years of very bad governance,” he added.

Abad said one does not have to do much research to dispute the points raised in the Arroyo, such as the susbtantial economic growth rate inherited by the Aquino government.

“The question is what legacy? The numbers may have grown but if you look at the poverty incidence, it has worsened. Look at the employment nmbers, it has worsened during their time,” Abad said.

In contrast, Abad cited the renewed confidence the credit ratings agencies have shown toward the  Philippines under Aquino.

“In the 18 months of this presidency we had five upgrades in our rating;  the last one was the Standard and Poor’s,” Abad said.

“We hope within the next two to three months there can be a ratings upgrade. What is different from this administration’s economic policy is that it is not detached from the measures on the improved governance, especially transparency and accountability in the use of public funds which was absent totally in the last administration,” he added.