Economic managers cite gains during FVR

The economic reforms put in place during the Ramos administration paved the way for the government to adopt as a development vision to improve the quality of life for every Filipino.

In a statement on the death of former President Fidel Ramos on Sunday, Amina Pangandama, Minister of Budget and Administration, said that during Ramos’ government the country became known as the “Tiger Cub Economy of Asia”.

“We remember President Ramos as a strong and decisive leader under his administration the government budget took upon itself the task of becoming an instrument of economic growth. In 1992, the Philippine Medium-Term Development Plan of his administration made improving the quality of life of every Filipino its development,” she said.

Ramos, 94, served as the country’s 12th CEO from 1992 to 1998. He died on July 31, 2022 due to complications from Covid-19.

Pangandaman said the budget and administration department will honor the legacy of the late president “by continuing to work hard to realize our shared dream of a better nation for all”.

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“May God bless his hardworking servant who worked so hard for the advancement of the Filipino people,” she added.

In a separate statement, Social and Economic Planning Minister Arsenio Balizkan offered his condolences to the Ramos family.

“While at the Academy, I saw closely and followed closely how his economic and social reform agenda, centered on opening the economy and empowering individuals, paved the way for foundational economic transformation. It provided the country with much-needed stability against threats from within.”

Balizkan said Ramos was also a visionary, noting that “his foresight and steadfastness enabled the Philippines to weather the 1997 Asian financial crisis and be among the ‘tiger economies’ on the continent.”

“We will continue to honor and build on his legacy as we pursue the country’s long-term vision of Matatag (stable), Majinhawa (convenient) and Banatag na bohai (a safe life) for every Filipino,” he added.

Ramos graduated from the US Military Academy at West Point in 1950.

Prior to becoming president, Ramos served as Chief of Staff of the Armed Forces of the Philippines from 1986 to 1988 and Secretary of National Defense from 1988 to 1991, both during the first Aquino administration.

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