MANILA, Philippines – President Gloria Macapagal Arroyo on Saturday expressed her readiness to hand over a “new Philippines” to a new government.

“I know much work remains to be done, but I am determined to turn over to a new government a new Philippines--one that is ready for the challenges of bringing the nation to the verge of the First World in 20 years,” President Arroyo said.

During her speech on the occasion of the 112th Philippine Independence Day celebrations, Mrs. Arroyo detailed the efforts of her government to bring the country back on the global map.

The Philippines, she said, was in a dismal situation before she took over the helm of being the country’s president.

“Internationally, the Philippines has fallen far, far off the radar screen. It had forfeited its strategic importance, weakened its alliances in the region and the world, and taken itself out of consideration by investors as a place to invest,” she said.

Mrs. Arroyo maintained that she “did not seek the office of the president in 2001.” Instead, she said, “It was thrust upon me. Rather than shirk on the onerous task, I rolled up my sleeves, determined to turn the Philippines around.”

Her government’s priority then was the economy.

“We put the economy first, raised revenue, and invested in physical and human infrastructure. These actions would form the building blocks of a turnaround that will deliver 37 quarters of uninterrupted growth even against the headwinds of a global recession,” she said.

She added: “We put the Philippines on the map when the call center and business process outsourcing sector changed Manila's skyline with modern skyscrapers. We brought development to the provinces, and connected the nation from north to south, east to west with the roll-on-roll-off transportation system.”

The President also mentioned the recent conduct of the first automated polls in the country that “will change the face of politics in this nation forever.”

Furthermore, Arroyo asserted that the government’s dire financial situation which her administration inherited from the previous predecessor is now “in a much healthier position today than 9 years ago.”

“Revenues are up. The debt to GDP (Growth Domestic Product) ratio is down. Our debt servicing is more manageable than before. This has resulted in an improvement in our credit ratings and today we are debt-free from the IMF (International Monetary Fund),” she said.

According to Mrs. Arroyo, the Philippines under her administration was able to forge new relations with the world.

“In the era of international relations, the Philippines is back. No longer the laggard, the Philippines has been a steady climber in Asia and the world,” she said.

She also cited China as the Philippines’ leading economic partner. The US, she said, continues to “stand shoulder-to-shoulder” with the Philippines and aids the country’s economy and security, while Europe and the Muslim world “are strong allies of the Philippines”.

“Improved foreign relations have opened the doors of economic opportunity for those Filipinos who have chosen to go abroad. Diplomacy has helped protect the interest of hardworking Filipinos in every corner of the globe,” she said.

She admitted having taken heavy political risks to broker peace in Mindanao.

“We will reach within the affected communities to change the peace paradigm. We have brought together an amazing international consensus to aid the process from the outside--Japan, Australia, the US, England, the OIC (Organization of Islamic Conference) nations, Malaysia and so many others--who now have a vested interest in peace in Mindanao,” she said.

She likewise mentioned the government’s efforts to end the culture of lawlessness and kidnapping and to remain a leader in the fight against global terrorism.

“So we will leave a legacy of hard work, a strong and stable economy and renewed global engagement, and major investments in healthcare, education and physical infrastructure,” Mrs. Arroyo said.