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WORLD BANK OPTIMISTIC ABOUT THE PHILIPPINES' ECONOMIC FUTURE.
AsiaPulse News, November, 2004
MANILA, Nov 10 Asia Pulse - The World Bank said that it remained "optimistic" about the country's economic future despite fiscal problems as it recognized the efforts of President Gloria Macapagal-Arroyo in moving the economy forward with a slew of tax reform measures.
In a media briefing on the occasion of the release of the World Bank,s East Asia Update report, WB vice president for East Asia and the Pacific Jemal Kassum said that he was "encouraged" by the government's program to address the fiscal crisis.
"I believe the fiscal reforms the government of President Gloria Arroyo intends to implement are a step in the right direction," Kassum said.
Kassum's reassuring statement came on the heels of an announcement by the President in Malacanang...
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