WE HAVE TO REMAIN UPBEAT – VP NOLI
October 10, 2008

Vice President Noli “Kabayan” De Castro is still upbeat on the resiliency of the Philippine economy.

The Vice President said yesterday that our country is better prepared to weather the global economic slowdown because of its strong economic fundamentals. De Castro said that the government should continue with the modernization of infrastructure and pump priming activities on housing and real estate development, essential to our economic development. Likewise, De Castro said that we can expect expanded social services to our people as this is possible because of our good fiscal position.

De Castro pointed out that the country's bouyancy is kept by the remittances from the overseas Filipino workers, as he is confident that these will remain steady and will redound to the benefit of our country's economy.

“That is why we should exert extra effort to find means to push for programs and review policies to further promote the welfare of our OFWs as they have sustained the inflow of needed dollars,” De Castro said.

“I am very much confident that we can hurdle this global financial crisis. We all know that it is the inherent quality of Filipinos to be resilient and to adapt to changing situations wherever they may be. I believe the overseas Filipino workers' remittances will keep our economy afloat,” De Castro said.

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