In a brief speech in this city, President Gloria Macapagal-Arroyo said the crisis plunged the United States and other highly industrialized countries into recession, which in turn brought a double digit unemployment rate.

Fortunately, the President added, the government had earlier created the necessary number of jobs to insulate the Philippines from the economic difficulties that the rest of the world had to endure.

Creating million jobs for Filipinos, especially for those most vulnerable to the economic crisis is a priority project of the current administration.

As a result of the purchasing power the jobs brought, the Philippine economy grew by 0.7 percent in the first three quarters of 2009 and is expected to grow by one percent in the full year, well within the target range of 0,8 percent and 1.8 percent.

The President made the comment after talking to beneficiaries of the newly launched Saba Banana Development Program and the Virtual Poultry Farming Project, a collaborative effort of the Department of Trade and Industry, the Department of Labor and Employment, the Overseas Workers Welfare Administration, with funds provided by the Development Bank of the Philippines and Land Bank of the Philippines.

The President also distributed certificates of entitlements and starter kits to would-be banana farmer-entrepreneurs involved in the Saba program, and to the beneficiaries of the Youth Entrepreneurship Support (YES), the Training Enhancement for Competitiveness in Harnessing Innovative Entrepreneurs (TECHIE), and the Micro, Small, and Medium Entrepreneur (MSME). (PIA- Pagadian City)

Last update : 11-01-2010 01:25

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