MANILA - Malacanang downplayed accusations that the talk of charter change (Cha-cha) allegedly by the faction of Local Government Secretary Mar Roxas, Budget Secretary Florencio Abad, and Senate President Franklin Drilon is hurting the economy.
In an interview with radio dzRB, Communications Secretary Herminio Coloma Jr. pointed to gains in the Philippine economy. "The best gauge is the 6.4 percent GDP growth rate for the second quarter,” he said, adding that several agencies have also highlighted the country’s bullish economy.
"Also, the prognosis of respected international agencies such as Moody’s Analytics and the Development Bank of Singapore is that our economy will continue to grow and our economic performance will continue to surpass most of our neighbors," he said.
United Nationalist Alliance (UNA) secretary general Toby Tiangco earlier coined the acronym MAD to refer to Roxas, Abad and Drilon.
Tiangco said the MAD faction has “started all the talks about term extensions, impeachment of the judiciary, removals from office and many other amazing stories. They have somehow succeeded, and evidently, their plot has impacted on the economy” to advance an agenda.
According to Tiangco, this strategy has brought down the confidence of businessmen in the economy.
"It is quite sad that the administration has tolerated the main agenda of the MAD faction within the Liberal Party, which is to stay in power beyond 2016 in order to continue their happy days, cover up for their criminal liability because of the Supreme Court's ruling on the Disbursement Acceleration Program and also to get back at the Supreme Court, by clipping their powers,” he said.
President Benigno Aquino III already clarified that he will step down when his term ends in 2016.