UNO SAYS PCIJ REPORT CONFIRMS WHAT PINOYS HAVE KNOWN ALL ALONG

PRESS RELEASE
August 10 2009
REF: JOEY SALGADO

United Opposition (UNO) spokesman Ambassador Ernesto Maceda today said the opposition is seriously concerned over reports of “exponential growth” in the wealth of the Arroyos during the latter’s term, which exceeded the growth in wealth of all three presidents before her.

“The PCIJ report confirms what people have long known. Arroyo has flouted the rules on accountability and transparency in government and has made a bad example for the million and a half other civil servants running the government,” Maceda said.

“Now we know why she has made token compliance to the requirement of regularly stating a public official’s assets, it’s because she has much to hide,” he said.

“In her eight years in office, Arroyo’s declared net worth more than doubled, from P66.8 million in 2001 to P143.54 million in 2008. The increase of P76.74 million represents a growth rate of 114 percent.” Maceda said quoting the PCIJ report.

The PCIJ report said that the late President Corazon C. Aquino’s declared net worth grew by only 4.8 percent from 1989 to 1992. By comparison, Fidel V. Ramos’s rose by 34.2 percent from 1992 to 1998, and Joseph ‘Erap’ Ejercito Estrada’s, by 7.2 percent from 1998 to 1999.

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