According to gmanews.tv, reports from the Philippine Center for Investigative Journalism (PCIJ) in 2000 show President Gloria Macapagal Arroyo's "declared wealth as growing faster, and by amounts much bigger, than the combined growth in the declared wealth of three presidents before her (Aquino, Ramos and Estrada)."
Arroyo's declared net worth doubled from P66.87 million in 2001 to P143.54 million in 2008.
In her last State of the Nation address, she said, "I am falsely accused, without proof, of using my position for personal profit."
The gmanews.tv report by veteran investigative journalist Malou Mangahas plotted Arroyo's statements of assets, liabilities, and net worth from 17 years ago when she first served as senator, and found out that her declared wealth grew exponentially by 2,000 percent. Read the full report here.
Responding to this report, Malacañang Press Secretary Cerge Remonde said over dzXL radio yesterday, "Walang problema 'yan. On the other hand, nagpapakita 'yan na transparent si Pangulong Gloria dahil nag-report siya na umangat ang income niya," reports gmanews.tv.
Remonde attributed the rapid increase in President Arroyo's wealth to real estate investments made by herself and her husband Jose Miguel Arroyo that soared in boom market of the last ten years . "At alam ng lahat ang pamilya ng FG (First Gentleman) belongs to the landed gentry," Remomde said.