I'll leave any irrational comments to others who feel less constrained… but let me say this… 2006 was a good year, and 2007 promises to be even better. I believe our economy has reached a tipping point and, to mix metaphors, the rising tide will lift up, not capsize, our boat.
With some of the most stable macroeconomic fundamentals we have seen in a decade, including a much improved fiscal position, single digit rate of inflation with a downward trajectory – despite volatility in oil prices – a healthy external position, a strong peso and a substantial level of foreign exchange reserves, the rising tide of economic and fiscal reforms paired with sound monetary and external sector policies will continue to lift the boat of the Philippine economy.