Exemplary job in deficit reduction

At Issue: Real management skills allowed for reduction of deficit even against the loss of some $31 Million in revenue.

Our View: The administration deserves the accolades of taxpayers for paring down expenses over the last year.

Against assaults of the local economy triggered by the Asian Crisis, including instability wrought by a frivolous agenda for a federal takeover, the administration definitely deserves the taxpayers’ accolades for exercising prudence in the way public funds are spent.

We never doubted Governor Tenorio’s sense of frugality for he knows, having been to the post twice before, that the livelihood of his people depends on how well he disposes of money in the public purse. He did just that by cutting down travel and all other superficial expenses and stuck to basics to ensure the continued delivery of essential public services.

That Governor Tenorio ably saved $10 million against the closure of more than 2,000 businesses, therefore, a reduction in revenue generation, is a tale of his persistent commitment to save some money for, in his favorite reminder to cabinet members, that “rainy day”. We thank you Governor Tenorio for your quiet though firm leadership in the disposition of public funds when revenue took a huge plunge.

The task is far from done and it will require the deliberate and combined efforts of executive and legislative leadership to review and repeal all policies that have done nothing but stifle expansion of current investments while discouraging any further capital infusion.

Leadership, however, must commit to forging stronger partnership with the business sector in our collective efforts to revive and bring prosperity to greater heights at the start of this millennium. Lest we forget, it is businessmen who create and establish wealth creation that subsequently translate into jobs creation. It is more the reason to seek stronger partnership in building confidence via stable policies that would trumpet the message worldwide that the NMI is a conducive venue for lasting investments. Stability is everything to expansion and encouragement of future investments.

We encourage all sectors to join hands so to successfully open windows of opportunities for lasting prosperity. Again, congratulations to Governor Tenorio for reducing deficit spending by $10 million against all odds. Indeed, it is a very refreshing accomplishment in confidence building and we hope too that economic recovery would grant the NMI renewed vigor to pursue our collective goal of prosperity for one and all. Si Yuus Maase`!