THE PRESIDENCY OF GLORIA MACAPAGAL ARROYO (2001-2010)

In Partial Fulfillment

Of the Requirements in

Philippine Economic History (ECON2)

Submitted By:

DAVID, CHRISTINE JOYCE B.

MIGUEL, FRANCES JANSELLE D.

UMLAS, SEAN D.

May 2019
I. ARROYO’S EARLY LIFE

Arroyo is the daughter of Diosdado Macapagal,

the president of the Philippines in the early 1960s. She

was born in 1947 and grew up in Lubao, Pampanga,

with her two older siblings from her father's first

marriage, and Iligan City, with her maternal

grandmother, and split her time between Mindanao and

Manila until the age of 11.

Gloria’s father was elected president when she

was 14. After that she lived in Malacanang Palace and

had a municipality named in her honor, Gloria, Oriental Mindoro. Gloria was always

attracted to power and was a high achiever. Arroyo graduated at the top of her class from

Lubai Central Elementary School and was valedictorian at Assumption Convent high

school in 1964.

Arroyo attended Georgetown University for two years and was a classmate of

U.S. President Bill Clinton and made the dean’s list. She then earned her Bachelor of Arts

degree in Economics from Assumption College, graduating magna cum laude in 1968.

She eventually earned a Ph.D. in macroeconomics. She then became an economics

professor.

Arroyo is a devout Roman Catholic, who was often has a Bible in her hand. She

sought the advice of her father after he was dead by regularly consulting his memoirs

“Stone for the Edifice”. Arroyo is married to Jose Miguel Arroyo, lawyer and
 businessman from Binalbagan, Negros Occidental, whom she had met while still a

teenager. He is member of one of the Philippines’ richest families.

II. INDUSTRY

The rapid economic growth during the past years, perhaps one of the former

president’s few and widely acknowledge achievements amidst the steady slide in her

popularity ratings. But Arroyo administration will be remembered for the lost grounds on

important measures of development and progress in the face of economic growth. The

disturbing divergence of a few and the welfare of the many is the most troubling legacy

that the Arroyo presidency leaves behind.

A. MANUFACTURING

Looking back during 1949, the imposition of the import quotas, raised tariff

barriers, and institutionalized of the foreign exchange rate controls resulted to the

expansion of the manufacturing sector which were later on developed as the Filipino

First Policy under the late president Carlos P. Garcia.

Amidst the creation of the current poverty situation and general crises of the past

governments, the government economists during the time of Pres. Gloria Macapagal

Arroyo had continued on claiming that the economy was performing well despite its

conditions. Undoubtedly, the statistics indicated that the economy was not improving in

real terms as the country’s manufacturing sector were slacking with the fundamentals for

modernizing the economy have eroded.

created just 15,370 jobs annually since January 2001 and had reached up to 3 million in

January 2010. In contrast to that, seven times more household help jobs were created over

the same period having an addition of 107,730 annually and had reached up to 2.1 million

in January 2010. With this, the number of household help in the country was fast

approaching the number of the manufacturing workers.

The deterioration of domestic manufacturing and agriculture had explained the

weak job creation and highlighted how the period 2001-2009 had seen how most of the

Filipinos had been forced to find work abroad in the country’s history. The erosion of the

domestic production had also caused an over-reliance on external sources of growth --

especially overseas work but also such as low value-added export manufacturing and

business process outsourcing (BPO).

B. AGRICULTURE

During the administration of the former president, the share of the agriculture to

the gross domestic product decreased from 20% (year 2001) to 18% by 2008 and 16.8%

by 2010. It has appeared that the agricultural sector of the country has a low share to the

GDP and it is decreasing over time. It was pointed that it was true due to the reason that

only primary agriculture products were considered.

Considering that the Philippines is a climatically-challenged country, the growth

of the agriculture is always being affected by the extreme weather. The Philippines

ranked 3rd amongst the most vulnerable country (Hamerling, 2011). There was a positive

growth during favorable weather but the increment could not offset the negative outcome
during the years when there were disasters. Also, the country is not endowed with big

rivers compared to countries such as Thailand, Vietnam, Myanmar which explains why

these countries have cheaply irrigated their large rice areas.

Upon the consequence of the decreasing share of agriculture to the country’s GDP

is that the Philippines became a major importer of agricultural products and inputs. For

years 1994-2008, the Philippines 61.5% more than exports. During the last three years of

the administration of the president, lots of catching up on irrigation infrastructure was

done. But the budget were mostly utilized in rehabilitating existing irrigation

infrastructure destroyed by typhoon Peping and Ondoy.

Furthermore, during the administration of the president, the gross value added in

agriculture (GVAA) grew at an average of 3.41% compared to the 2.52% and 1.49%

during the administration of presidents Ramos and Estrada, respectively; the average

value of agriculture crops, at 1985 constant prices, amounted to PHP140 billion which is

14% and 13% higher than the output during the said administrations of presidents Ramos

and Estrada. For livestock, the output was PHP39 billion, the output for poultry was

PHP44 billion and the value of production of fishery was PHP70 billion. For palay

production, the annual production from 2001-2009 posted an average of 14.893 million

metric tons (MMT).

Over the past nine years of stewardship, the Arroyo administration succeeded in

pouring more funds towards agriculture productivity by providing loans to farmers and

fisherfolks. At the end of the year 2009, the total loan releases and grants totaled to

PHP465.2 billion.
C. SERVICE

IT-BPO development in the Philippines is a story of growth, expansion,

improvement, and success in which stakeholders constantly strive to reach stretch goals.

The administration of President Gloria Macapagal-Arroyo played an important role in the

industry’s impressive growth. The government actively supported initiatives to strengthen

the industry such as encouraging the establishment of BPAP; creating CICT; providing

investor support through BOI and PEZA, which included accrediting buildings used by

the industry.

A key initiative of the administration of the president was to address the

anticipated demand for well-trained and qualified IT-BPO workers. The president

instructed the Technical Education Skills Development Authority (TESDA) in 2007 to

allocate 350 million to subsidize IT-BPO training in 2008. The subsidy was used to train

fresh college graduates in skills required by the industry. The same amount was allocated

in 2009. This subsidy has greatly helped the companies hire qualified IT workers as they

joined the highly competitive industry.

As the fastest-growing industry in the country, IT became the major driver of the

Philippine economy. It also became the major source of employment, with a workforce

growing from 5,600 in 2001 to over 500,000 by the end of this year -- an annual growth

rate of 65% in the last nine years. In terms of manpower, the industry began unnoticed in

2001 with a few thousands of contact center workers. After just eight years, including all

sectors, there were over 442,000 IT-BPO workers in the Philippines, an increase from

100,500 in 2004.
III. LAWS ENACTED RELATIVE TO ECONOMICS

A. R.A. 7844 - THE EXPORT DEVELOPMENT ACT

Signed in 2006 by Arroyo, It was created by virtue of Republic Act 7844,

otherwise known as the Export Development Act of 1994. The Council oversees the

implementation of the Philippine Export Development Plan (PEDP) as well as advocate

for policy reforms that will facilitate and enhance Philippine exports.

B. R.A 8179 - FOREIGN INVESTMENT ACT

An Act to promote foreign investments, prescribe the procedures for registering

enterprises doing business in the Philippines, and for other purposes.

C. R.A 7651 - REVITALIZING AND STRENGTHENING THE BUREAU OF

CUSTOMS

An act to revitalize and strengthen the Bureau of Customs, amending for the

purpose of certain sections of tariffs and customs code of the Philippines, as amended.

D. R.A 7916 - CREATING THE PHILIPPINE ECONOMIC ZONE AUTHORITY

Republic Act No. (RA) 7916 created the Philippine Economic Zone Authority. It

provided for the legal framework and mechanism for the creation, operation,

administration and coordination of special economic Zones (ECOZONES) in the

Philippines.

E. R.A 7640 - AN ACT CONSTITUTING THE LEGISLATIVE-EXECUTIVE

DEVELOPMENT ADVISORY COUNCIL

An act to ensure consistency in coordinating executive development planning and

congressional budgeting.
F. R.A 7903 CREATING THE ZAMBOANGA SPECIAL ECONOMIC ZONE

An act creating a special economic zone and freeport in the city of Zamboanga

creating for this purpose the Zamboanga city special economic zone authority,

appropriating funds therefore, and for other purposes.

G. R.A 7654 ALLOCATING A PORTION OF THE INCREMENTAL REVENUE

COLLECTED FOR THE EMERGENCY EMPLOYMENT PROGRAM

Fifty percent (50%) of the increment in total revenue collected under this Act for

a period of one (1) year from its effectivity shall be allocated and disbursed solely for

purposes of providing emergency productive employment to workers displaced by the

electricity power crisis of that year.

IV. EVENTS TRANSPIRED ON THOSE YEARS

A. ARROYO’S POLITICAL CAREER

In 1987, Arroyo was invited by President Corazon Aquino to join the government

as Assistant Secretary of the Department of Trade and Industry. She was promoted to

Undersecretary two years later. In her concurrent position as Executive Director of the

Garments and Textile Export Board, Arroyo oversaw the rapid growth of the garment

industry in the late 1980s.

Arroyo was the biggest vote getter in the 1995 election for Senator (Several

Philippine Senators are elected at one time by being the top vote getters in a group of

candidates). She won with the highest number of votes in election history. While serving

as a senator from 1992 to 1998, Arroyo authored 55 bills, including legislation that

promoted privatization and trade. Arroyo was also the top vote getter when she ran as
 vice president. She changed parties three times, based more on her desire to further her

political career than on ideology. People who worked with her described her disciplined,

deliberate, a perfectionist, never impulsive.

Arroyo was an opposition vice president when she took that office in 1998. In the

Philippines the president and vice president are voted on and elected separately and

president Joseph Estrada was from a different party. Estrada put her in charge of the

Department of Social Welfare and Development. In that position she showed her concern

for the needy by traveling to every province, delivery food and relief supplies to the poor.

B. ARROYO BECOMES PRESIDENT AND THE “OUSTER” OF ESTRADA

Arroyo kept mostly quiet on Estrada’s trouble until the very end. In October 2000

as Estrada’s situation was becoming more and more tenuous, Arroyo quit her cabinet

post, most believe out of ambition rather than ethics. Her timing was perfect. She was

quickly embraced by the opposition as a replacement for Estrada and became the leader

of the opposition. At that time, she began assembling a transition team so “she could hit

the ground running” in the event she became president.

Arroyo was sworn as president on January 21, 2001, hours after Estrada was

ousted and the same day that U.S. President George Bush was sworn into office. After

Estrada supporters marched to Malacañang Palace, Arroyo branded the violence as an

attempt to grab power and declared a “state of rebellion” and ordered the arrest of 11

prominent military officers and opposition leaders.

In March 2001, the Supreme Court confirmed the legitimacy of Arroyo’s

presidency in a vote of 13-0. In a 68-page ruling the court said that Estrada effectively

quit when the left the presidential palace grounds and cited a statement by Estrada that
 read, “I leave the palace of our people with gratitude for the opportunities given to me for

service of our people.”

Arroyo’s accession to power was further legitimated by the mid-term

congressional and local elections, when her coalition later won an overwhelming victory,

but the elections were fraught with allegations of coercion, fraud, and vote buying. In the

May 2001 senatorial election, her allies won by a thin margin. The election was viewed

as a de facto referendum on Arroyo’s rule.

C. ARROYO’S EARLY YEARS AS PRESIDENT

Arroyo’s initial term in office was marked by fractious coalition politics as well

as a military mutiny in Manila in July 2003 that led her to declare a month-long

nationwide state of rebellion, as a result of which charges were filed against more than

1,000 individuals. To strengthen her power base, Arroyo embarked on a program aimed

at improving the life of the poor. Arroyo initially made a sincere effort to tackle

corruption.

As time went on there were increasing accusations that Arroyo’s administration

was corrupt and ineffectual. Her own husband was accused of taking a $2.5 million bribe

in an effort to get him to influence his wife on a major telecom deal. Arroyo herself was

accused of making too many television appearances, lacking substance and lacking the

toughness to bring about real change.

Arroyo was unable to achieve many of her goals and carry out programs she

proposed due to political opposition, mainly from the ruling elite. Arroyo and her cabinet

said that the political fighting and sniping exhausted and frustrated them deeply.
D. OAKWOOD MUTINY (2003)

In July 2003, 300 junior officers and soldiers staged a revolt against the

government of President Gloria Macapagal Arroyo. They seized a Manila hotel,

apartment complex and shopping mall in the Makato financial district in Manila and took

several hundred hostages for a while. No shots were fired but the mutineers said they had

rigged a huge area with explosives and threatened to set them off it their demands were

not met. It was the ninth uprising in 17 years.

The officers made allegations of corruption, complained how they suffered while

retired officers lived well, accused the military of selling arms to terrorists and Muslim

insurgents and set off bombs to blame insurgents and demanded that certain government

officials, including the Defense Secretary and the national police chief, resigned.

The mutiny ended after 19 hours after intense negotiations. The soldiers went

back to their barracks and faced court martial charges after authorities agreed to

investigate the corruption charges and other complaints. When the whole episode was

over one of the mutineers told the media, “We were ready to die but gave up for the sake

of our comrades in the military and the interest of the people and the country.”

The mutiny was well organized. This led some to include that it was not the work

of idealistic young officers but had the support of some senior military personnel. Some

thought the whole affair was orchestrated by conservative military leaders and Estrada.

After the mutiny a group of junior military officer and a top aide to Estrada were arrested.

An army intelligence chief was forced to resign for not getting wind of the plot.
E. THE “HELLO GARCI” SCANDAL (2004)

The scandal involved former president Gloria Macapagal-Arroyo, who allegedly

rigged the 2004 national election in her favor. The official results of that election gave

Arroyo and Noli de Castro the presidency and vice-presidency, respectively. Hundreds of

national and local positions were also contested during this election. The scandal and

crisis began in June 2005 when audio recordings of a phone call conversation between

President Arroyo and then Election Commissioner Virgilio Garcillano, allegedly talking

about the rigging of the 2004 national election results, were released to the public. This

escalated when the minority of the lower house of Congress attempted to impeach

Arroyo. This was blocked by Arroyo's coalition in September 2005 and no trial took

place.

Allegations against Arroyo and her accomplices in government are many,

including electoral fraud and a subsequent cover-up. The administration has denied some

of the allegations and challenged others in court. The House of Representatives, which is

dominated by Arroyo's coalition allies, blocked attempts for an impeachment trial.

Arroyo's most well-known alleged accomplice from the electoral commission, Virgilio

Garcillano, was missing for a few months, but returned to the capital in late 2005.

Allegations persist regarding possible conspirators from the government who helped in

his escape, and another alleged cover-up. Garcillano denied any wrongdoing, before his

disappearance, and after his return. In December 2006, Garcillano was cleared of perjury

charges by the Department of Justice.

The evidence carried with it faced great consequences. The Ong tape were

neutrally authenticated by foreign companies Uniquest (Australia) and Voice

president herself, acknowledged that it was indeed Arroyo's voice. The protesting public

insisted that the tapes and CDs proved electoral fraud, and that Arroyo cheated and

rigged the 2004 elections. A sizable number of people wanted the results of the 2004

elections to be made invalid. The Supreme Court withheld judgment on the matter,

refraining from actions toward invalidating the election. The administration said the Ong

recordings were inadmissible in court, since the audio was taped without consent.

F. FERTILIZER FUND SCAM (2004)

In March 2004, the Philippine Daily Inquirer reported that Senator Panfilo Lacson

accused President Arroyo of vote-buying by authorizing the release of ₱728 million. The

money was supposedly to be used for the purchase of fertilizers which would be

distributed to the local officials.

After a year, an episode of the Probe Team reported that some farmers claimed

that they did not receive fertilizers from the funds released by the Department of

Agriculture. A Philippine Center for Investigative Journalism (PCIJ) special report was

released later saying that billions of farm funds were used to fund Arroyo's presidential

campaign.

G. CONSTITUTIONAL REFORM IN THE PHILIPPINES (CHARTER CHANGE)

Under President Gloria Macapagal Arroyo, there were more attempts to change

the 1987 constitution. Constitutional reform was included in Arroyo's election campaign

platform during the 2004 elections and was considered a high priority. After winning the
 2004 elections, Arroyo, by virtue of Executive Order No. 453, created the Consultative

Commission, headed by Dr. Jose V. Abueva. The task of the Consultative Commission

was to propose the "necessary" revisions on the 1987 constitution after various

consultation with different sectors of society. After about a year of consultations, the

Consultative Commission came up with proposals that included a shift to a unicameral

parliamentary form of government; economic liberalization; further decentralization of

national government, and more empowerment of local governments by a transition to a

parliamentary-federal government system. While constitutional reform and "opening up"

of the Philippine economy are generally supported by small and medium businesses in

the country and by the Philippine Chamber of Commerce and Industry (PCCI) and the

Employers Confederation of the Philippines (ECOP), it is opposed by the Makati

Business Club (MBC).

H. AMNESTY PROCLAMATION (2007)

On September 5, 2007, President Gloria Macapagal-Arroyo signed Amnesty

Proclamation 1377 for members of the Communist Party of the Philippines and its armed

wing, the New People's Army; other communist rebel groups; and their umbrella

organization, the National Democratic Front. The amnesty will cover the crime of

rebellion and all other crimes "in pursuit of political beliefs," but not including crimes

against chastity, rape, torture, kidnapping for ransom, use and trafficking of illegal drugs

and other crimes for personal ends and violations of international law or convention and

protocols "even if alleged to have been committed in pursuit of political beliefs." The
 National Committee on Social Integration (NCSI) will issue a Certificate of Amnesty to

qualified applicants. Implementing rules and regulations are being drafted and the decree

will be submitted to the Senate of the Philippines and the House of Representatives for

their concurrence. The proclamation becomes effective only after Congress has

concurred.

I. MANILA PENINSULA REBELLION (2007)

The Peninsula Manila Rebellion was a rebellion in the Philippines on November

29, 2007. Detained Senator Antonio Trillanes IV, General Lim and other Magdalo

(mutineers) officials walked out of their trial and marched through the streets of Makati

City, called for the ouster of President Gloria Macapagal-Arroyo, and seized the second

floor of The Peninsula Manila Hotel along Ayala Avenue. Former Vice-President

Teofisto Guingona also joined the march to the hotel.

Sen. Antonio Trillanes IV and Brigadier Gen. Danilo Lim surrendered to

authorities after an armored personnel carrier rammed into the lobby of the hotel.

Director Geary Barias declared that the standoff at the Manila Peninsula Hotel is over as

Sen. Antonio Trillanes IV, Brig. Gen. Danilo Lim along with other junior officers agreed

to leave the hotel and surrender to Barias after the 6-hour siege. There was difficulty

getting out for a while due to the tear gas that was covering the area where they were

hiding. Days after the mutiny, the Makati City Regional Trial Court dismissed the

rebellion charges against all the 14 civilians involved in the siege, and ordered their

release.
J. IMPEACHMENT COMPLAINTS

In 2005, 2006, 2007 and 2008, impeachment complaints were filed against

President Arroyo although none of the cases reached the required endorsement of 1/3 of

the members for transmittal to and trial by the Senate.

On October 13, 2008, the 4th 97-page impeachment complaint against President

Arroyo was filed at the House of Representatives of the Philippines with the required

endorsements by Party list Representatives Satur Ocampo, Teodoro Casiño and Liza

Maza. The complaint accuses Arroyo of corruption, extrajudicial killings, torture and

illegal arrests. The impeachment further raised the issues on "national broadband network

agreement with China, human rights violations, the Northrail project, the Mt. Diwalwal

project, fertilizer fund scam, alleged bribery of members of the House, the swine scam

under the Rural Credit Guarantee Corporation, and 2004 electoral fraud."

Similar to earlier administrations, the Arroyo regime failed to address key social

and economic challenges relating to persistent poverty and inequality. Indeed, the recent

growth spurt prior to 2008-2009 occurred while indicators of poverty and hunger

increased. The recent boom period, while impressive on paper, created benefits that even

Arroyo supporters admit were not broadly shared by most Filipinos.

Further, a lack of commitment to agricultural development is a major factor

behind the Philippines’ transformation from a self-sufficient rice producer into the

world’s top importer of rice. This also reflects the broader underdevelopment of the rural

sector, in turn contributing to a pattern of growth that has left behind millions of Filipinos

and failed to make major inroads in poverty reduction. Over half of families engaged in
 farming are below the Philippine poverty line, a figure which has remained largely

unchanged since the mid-1980s.

The Arroyo legacy could be characterized by some improvements on the policy

front, though they are inadequate and leave many governance challenges and social

inequities largely unaddressed. As shown by the World Bank indicators, chronic

problems such as corruption have worsened, a key reason behind the Philippines’ anemic

progress in economic and human development. In addition, even the recent boom period

beginning in 2001 and ending in 2008-2009 represents a missed opportunity to facilitate

sustained change. This leaves many challenges for President Arroyo’s successor to take

up on July 1 when the next Philippine president is inaugurated.

K. ECONOMY UNDER ARROYO

Gloria Macapagal-Arroyo was welcomed with great fanfare when she became

president in 2001. The day she was sworn in, the stock market surged 30 percent and

businessmen praised her skills and abilities, Arroyo launched free market and anti-

corruption policies that were welcomed by both the local and international business

communities.

Investment dried up as a result of global slowdowns and security concerns. Direct

foreign investment was only $319 million in 2001 compared to $1.8 billion in 1992.

Growth was 3.4 percent in 2001, 4.3 percent in 2002 and 4.5 percent in 2003. In

2004 the economy was hurt by high oil prices. Still more growth was needed just to keep

pace with 2.36 percent population growth rate. Inflation was less than 6 percent but the

deficit grew at an alarming rate as the government spending increased and tax revenues
fell. Raising revenues became one of the main problems. In 2003, the deficit reached $3.6

billion and debt was estimated to be over $100 billion. The government’s debt burden

reached its peak in 2004 when it settled at 74 percent of GDP.

Arroyo began her second term in 2004 with promises of “austerity and simplicity”

and the announcement of a reform package to fight corruption, attract foreign investment,

and make the Philippines less dependent on foreign energy. She promised to create 10

million jobs by 2010 and announced that power rates would be doubled to avert an

energy crisis, she also promised to provide clean water and electricity to every village in

the Philippines and build 3,000 schools. The plan called for the seemingly impossible

combination of increased spending, higher taxes and a balanced budget in five years.

Arroyo’s economic drive quickly lost momentum. She was unable to overcome

political opposition to privatizing companies like the National Power Corporation, which

lost $1.8 billion in 2003. Instead an effort was made to make them efficient. By the end

of her term much of her time was spent responding to charges that she rigged the 2004

elections and he was husband was involved in kickback scheme with a Chinese company

involving millions of dollars.

Growth in 2003 and 2004 was around 5 percent due in part to rising demand for

Philippines electronic exports. Growth occurred despite continued hikes in oil and

consumer prices on top of typhoons and floods. Growth was 4.7 percent in 2005. That

year exports amounted to 40 percent of GDP. Many of the export items were electronics.

Two-thirds of Philippine imports are used to build exported computer parts, disks and

other electronic products made by local units of companies such as Texas Instruments

Inc. and Toshiba Corp.

centerpiece of the Arroyo's administration economic reform agenda, was implemented in

November 2005, aiming to complement revenue-raising efforts that could plug the

country's large budget deficit. The country aims to balance the national budget by 2010.

The tax measure boosted confidence in the government's fiscal capacity and helped to

strengthen the Philippine peso, making it East Asia's best performing currency in 2005-

2006. The peso strengthened by nearly 20% in 2007, making it by far Asia's best

performing currency for the year, a fact attributed to a combination of increased

remittances from overseas Filipino workers and a strong domestic economy.

Aboganda, R. N. M. (2011, November 18). Economic Nationalism & National Industrialization.

Retrieved from http://nepa1934.org/articles-and-statements/papers/economic-

nationalism-national-industrialization

Africa, S. (2010, June 11). Dark Legacies: The Economy Under Arroyo. Retrieved from

https://www.ibon.org/2010/06/dark-legacies-the-economy-under-arroyo/

Agriculture. (2012). Retrieved from http://www.gloriamarroyo.ph/accomplishments-by-

sector-agriculture.html

Constitutional reform in the Philippines. (2008, August 13). Retrieved from

https://en.wikipedia.org/wiki/Constitutional_reform_in_the_Philippines

Fertilizer Fund Scam. (2008, December 4). Retrieved from

https://en.wikipedia.org/wiki/Fertilizer_Fund_scam

Hays, J. (2008). GLORIA MACAPAGAL-ARROYO: PRESIDENT OF THE PHILIPPINES

2001 TO 2010. Retrieved from http://factsanddetails.com/southeast-

asia/Philippines/sub5_6b/entry-3854.html

Hello Garci Scandal. (2005, June 11). Retrieved from

https://en.wikipedia.org/wiki/Hello_Garci_scandal

Landingan, R. (2009, July 25). Faster growth under Arroyo: Reality or statistical illusion?

Retrieved from https://pcij.org/stories/faster-growth-under-arroyo-reality-or-statistical-

illusion/

Lava, H. (n.d). Agriculture during President Gloria Macapagal Arroyo: The Challenges Under

PNoy Administration. Retrieved from

Arroyo

Presidency of Gloria Macapagal Arroyo. (2004, July 1). Retrieved from

https://en.wikipedia.org/wiki/Presidency_of_Gloria_Macapagal_Arroyo#First_term_(200

1-2004)

Republic Acts authored by Sen. Gloria Macapagal Arroyo. (2012). Retrieved from

http://www.gloriamarroyo.ph/accomplishments-legislative-record-republic-acts-

authored.html

The Philippine IT-BPO Industry. (2012). Retrieved from

http://www.gloriamarroyo.ph/accomplishments-by-sector-it-bpo.html