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Manila: Philippine President Gloria Arroyo, facing mounting calls for her resignation, vowed yesterday to complete her term in office and not be distracted by a brewing kickbacks scandal.
In an interview at the Malacanang Palace, Arroyo said she was proud of bringing record growth to one of Asia's slowest-moving economies, and that allegations against her were "political noise".
The opposition, sections of the powerful Catholic Church and an influential business group have backed street protests slated for today to demand Arroyo's resignation over revelations during a Senate inquiry into the scandal that her husband was actively involved in the deals.
The army and police have been placed on full alert and Arroyo has also cancelled a weekend visit to the main military academy because of an assassination threat by Islamist militants.
"I will finish my term, not because my opponents will allow me... I will finish my term for the simple reason that the average Filipino wants political stability and economic progress, and they are getting that economic progress," she said.
Impressive growth
The Philippines recorded 7.3 per cent economic growth in 2007, the highest in three decades.
Arroyo projected a growth rate of 6.3-7 per cent for the economy during the current year despite an anticipated slowdown due to a possible recession in the United States, its biggest trading partner.
Despite the death threat and the political row, Arroyo looked relaxed during the interview and even hummed along with Richard Carpenter, the surviving member of the brother-sister singing duo, as she participated in a Valentine's Day concert at the presidential palace.
"I may be a good economist but I am not an astute politician," she said. "The reason the economy has reached the level that it has reached today is because I am focussed on the economy and therefore I don't dwell on politics," she said.
Analysts say Arroyo is no slouch at politics either - her position appears safe despite the revelations in the Senate and the ouster of presidents Ferdinand Marcos in 1986 and Joseph Estrada in 2001 through street prospects.
Staunch support
Although polls show her popularity at record lows, she is solidly supported by the military and her allies dominate the House of Representatives.
Analysts also say many opposition figures are preparing to contest the 2010 presidential election themselves and have no stomach for a protracted ouster battle now.
Budget
Slowdown safeguard
The Philippines will try to stick to its goal of a balanced budget this year despite providing a stimulus to guard against the impact of a slowing US economy, President Gloria Arroyo said yesterday.
The government would front-load planned expenditure in the early part of the year she said.
Her comments indicate that the government has decided against a proposed stimulus package outside the budget to offset the impact of a possible recession in the US. "We are hoping that the slowdown in the (US) economy will be short and sharp," she said.
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