Coup rumors to hurt economy: military official

MANILA, Philippines (Xinhua) - The Department of National Defense (DND) today warned that spreading rumors about an impending coup d'etat against President Benigno Aquino III would hurt the country's economy.

DND Spokesman Peter Paul Galvez said soldiers are not inclined to rebel against the Philippine government as Aquino has been responsive to their needs.

"Whoever is spreading coup rumors should stop. First of all, soldiers are not complaining. Also, this is not good for our economy," said Galvez.

The country's political stability has been cited by analysts as one of the major factors behind the increase in foreign investments in recent years.

On Tuesday, Philippine Senator Antonio Trillanes IV said retired generals associated with former President Gloria Macapagal- Arroyo are meeting with active military officers to persuade them to join a destabilization move against Aquino.