President Aquino Criticized Former President Arroyo Before the Filipino Community in Singapore

President Benigno Aquino III
President Benigno Aquino III in his speech in Singapore Filipino Community

In a speech delivered by President Benigno Aquino III in the Filipino community in Singapore, Wednesday, he poured out some word for Pampanga Representative Gloria Macapagal-Arroyo his former economics professor and the former President of the Philippines.

President Aquino criticized Arroyo’s previous administration and he cited the fast soaring debts in the National Food Authority that is from P45-billion – P177-billion during her term.

Aquino added that the major contributing factor in the failure of the former administration was due to political influences in all decision making.

When Arroyo’s administration refused an increase in electricity rates for the reason of election that year and it was resulted of debt to NAPOCOR soaring to P1-trillion, He said that it is one example of failure.

Some words said by Aquino in his speech. “During Arroyo’s administration the government lost its ability to helping Filipino people because all decisions were focus in political necessity. Just because of election in 2004, they did not raise the rates for electricity when it had to be done. The problem is all decisions are always had a political component, which normally in conflict with sound economic practices”.

“Fortunately, I have learned my economics from the person I replaced for she was my professor in economics; from her I learned my economics principles. Fortunately I learned what she has taught me, and unfortunately she forgot it,”

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