The Philippine Association of Local Treasurers and Assessors (PHALTRA), an organization of local treasurers and assessors from 81 provinces, 210 cities and 1,500 municipalities nationwide headed by Quezon City Treasurer Victor Endriga, lauded Finance Secretary Margarito “Gary” Teves for bagging the 2009 Best Finance Minister award from London-based The Banker Magazine.
Endriga pointed out Teves never lost sight of President Arroyo’s target to arrive at authoritative decisions that allowed the national government to hold its own against a competitive albeit dangerous world embroiled in a global economic meltdown.
According to Bureau of Local Government Finance executive director Maria Presentacion Montesa, Teves had provided the regulatory framework to assure predictability of funds for sustainable growth.
Teves had successfully formulated policies that took into account the broadest view of business operations to enable both businessmen and government to reap the most benefit for the fulfillment of societal goals.
“Secretary Teves paid attention to fiscal fundamentals to ensure productivity dynamics for efficiency gains,” declared Montesa. “The secretary succeeded in galvanizing the productive capacity of revenue agencies to step up the quality of their performance.
“Secretary Teves’ recognition as Asia Best Finance Minister is a good jump-off point to place the Philippines on the growth path as the most viable economic haven in a world buffeted by the global financial fiasco,” Endriga said.