Aquino's "resurrection" means greater hardships for the people--CPP

Information Bureau
Communist Party of the Philippines
April 09, 2012

The Communist Party of the Philippines (CPP) today criticized Benigno Aquino III for "making the foolish claim that the Philippine economy has 'resurrected' in an outright and crude effort to deceive the people and give them false hopes while the ruling Aquino clique continues amassing wealth through bureacratic corruption and partnering with big foreign capitalists in plundering the economy."

"Claims of economic resurrection are nothing but econoynoyics--pure and simple lies--to cover up the truth about the real state of the Philippine economy and the people's social conditions," said the CPP. "The only 'resurrection' is that of the big pro-Aquino landlords and bourgeois compradors who are now enjoying unrestricted opportunities to earn superprofits through the exploitation of the Filipino working class and extraction of super-cheap raw materials."

"Aquino's economic 'resurrection' means greater hardships for the Filipino people," said the CPP. "The spiralling prices of oil and cost of living, lack of employment opportunities, very low wages and miserable conditions of workers and peasants underscore the fact that the Filipino people continue to live in economic hell."

"Aquino's economic 'resurrection' favor only the pro-Aquino big companies which are amassing superprofits through the use of billions of pesos of public funds for infrastructure projects under the Public-Private Partnership program," added the CPP. "Such projects are being built by foreign companies using public funds and in the end will be used to generate profits for these companies through exorbitant fees that will be shouldered by the people."

"The claims that the benefits of Aquino's economic 'resurrection' will 'trickle down in time' is an old and wornout argument that Aquino's economics teacher Gloria Arroyo and all their predecessors have used to dupe the Filipino people," said the CPP. "The plain truth is that the IMF-designed, export-oriented, import- and debt-dependent economic program being implemented by the Aquino regime does not generate benefits that accrue to the Filipino masses."

"Aquino's economic program does not generate employment. On the contrary, it prevents the development of local industries in order to maintain a large army of unemployed workers and continually pull down wage rates," pointed out the CPP. "Local manufacturing remains at very low levels, with no significant changes in the past five decades or so. At the same time, ownership of land remains concentrated in the hands of a few monopolies, preventing agricultural progress and subjecting millions of peasants to feudal and semifeudal exploitation."

"The FIlipino people are suffering from unprecendented rates of unemployment," added the CPP. "Amid the worsening crisis of global capitalism, Aquino's technocrats can no longer rely on the old shortsighted formula of exporting labor to ease the pressure on local unemployment."

"Aquino has heightened the reactionary regime's privatization, deregulation and liberalization drive, making huge cuts in social spending and putting essential health and education services way beyond the reach of the Filipino toiling masses," added the CPP. "Aquino wants his World Bank-sponsored cash-transfer scheme to pass for a poverty-alleviation program without actually addressing the Filipino people's demands for fundamental economic changes."