Philippine president blasts anomalies, corruption

18:43, July 26, 2010      

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Philippine President Benigno Aquino III blasted on Monday the alleged anomalies that happened in the previous administration and vowed to fight against corruption under his presidency.

In his first State of the Nation Address delivered at the opening of the 15th Congress, Aquino alleged that the administration of former President Gloria Macapagal-Arroyo left not only a huge fiscal deficit, but depleted public coffers and heavily indebted state-owned corporations which penalized the Filipino people.

"I can feel the weight of my responsibility. I have discovered a lot of things about the previous administration and they lied to the Filipino people," Aquino said.

The Philippine's budget shortfall widened to 196.7 billion pesos (4.2 billion U.S. dollars) in the first six months of the year as huge government expenditure can't keep up with thin revenues.

He also noted that government-owned firms like the National Power Corp. and National Food Authority are in debt. He alleged that politics, not the welfare of the people, contributed to the mismanagement.

Source: Xinhua

(Editor:张茜)

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