Ramos takes steps to save RP economy<\/p>\n
MANILA (AFP): President Fidel Ramos ordered cabinet officials
\nto review proposals aimed at solving the country's economic
\nsituation, bruised by a regional currency crisis and threatened
\nby the El Nino weather phenomenon, a statement said yesterday.<\/p>\n
Cabinet officials are to submit by Oct. 17 their
\nrecommendations to a three-part program prepared by the house of
\nrepresentatives, the presidential palace statement said.<\/p>\n
Ramos' orders follow a day-long meeting held with government
\nofficials and businessmen on Friday to try to save the economy
\nfrom a deepening crisis before he steps down from power at the
\nend of June 1998.<\/p>\n
Finance Secretary Roberto de Ocampo has been asked to step up
\ncoordination with lawmakers for the early passage of remaining
\ncomponents of a tax reform bill, and to undertake a more
\ncomprehensive monitoring of banks and financial institutions, the
\nstatement said.<\/p>\n
Other agencies such as the Agriculture Department and the
\nNational Food Authority are to ensure the "timely importation" of
\ncommodities "to address the negative impact of the El Nino
\nphenomenon," it added.<\/p>\n
The government has prioritized the reduction of the current
\naccount deficit through fiscal discipline, and its scheduled
\nlowering of tariffs and its economic liberalization program,
\neconomic planning secretary Cielito Habito said Friday.<\/p>",
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"sponsor": "Okusi Associates",
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