“Because tough choices were made, the global crisis did not catch us helpless and unprepared. Through foresight, grit and political will, we built a shield around our country that has slowed down and somewhat softened the worst effects of the global crisis.
We have the money to care for our people and pay for food when there are shortages; for fuel despite price spikes. Neither we nor anyone else in the world expected this day to come so soon but we prepared for it.”
— State of the Nation Address (SONA,) Pres. Gloria M. Arroyo, 2nd Regular Session of the 14th Congress Republic of the Philippines
28 July 2008