Aquino checks finances

2010-07-01 16:18
Manila - Philippines President Benigno Aquino and his team spent their first full day in office on Thursday inspecting state coffers as a crucial first step in meeting his vow to wipe out graft and help the poor.

Already stuck with a record budget deficit, Aquino has accused his predecessor, Gloria Arroyo, of painting an unrealistically rosy picture of the economy to burnish her legacy after nearly 10 years in office.

Presidential spokesperson Edwin Lacierda said Aquino wanted to report the real situation to parliament during his "State of the Nation" address on July 26, when he will seek funding support for his programmes.

"The president has told each cabinet member to start work as soon as possible. They have two weeks to get to know the lay of the land," said Lacierda.

Aquino, a 50-year-old economist, took office on Wednesday with a vow to lift his nation out of poverty and wipe out crippling corruption that he said thrived under Arroyo.

Increased spending

The Philippines posted a $3.5bn budget deficit in the first five months.

Aquino ordered a review of all ongoing government programmes and an inventory of all assets to determine which can be sold off to support future projects, Finance Secretary Cesar Purisima told reporters.

The government has pledged increased spending for education, health and low-income housing.

Over the next few weeks Aquino will also go after tax cheats and begin implementing programmes specifically targeted at the very poor, who comprise a third of the population.

To underline the government's intent to target corruption as a means of gaining new funds to spend on the poor, Purisima said it would soon start filing charges against tax evaders.



Read more on:    benigno aquino  |  philippines
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

 

Inside News24

 
/News
 

This is what South Africans Googled in 2014!

Find out who and what South Africans were most curious about in 2014!

 
 

I love summer.24

This hilarious song is your new holiday anthem
The world's least visited destination is breathtaking!
LOL treadmill fail!
Google’s top searches of 2014

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

2DAYS ONLY – 30% off Appliances

Coffee makers, blenders, fans, juicers and more. T&Cs apply. Shop now!

2 DAYS ONLY – 40% off books

Get 40% off when you buy 2 books. For two days only! T&Cs apply. Buy now!

Up to 50% off on outdoor gear

Save on chairs, blankets, cooler bags, umbrellas and more. Shop now!

Save on Samsung

Cameras, mobile phones, TVs, Tablets and more. While stocks last. Shop now!

Grand Theft Auto 5

Now available on PS4, Xbox One and PC from R649. Buy now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

You may be emotionally defensive or reserved today. You need to step up today as there may be extra responsibilities to deal with....read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.