NoyNoy Aquino blasts Arroyo for corruption, mismanagement and leaving the Philippines on the verge of Bankrupcy

As NoyNoy starts to settle into his new role as president it appears he has found things in a worse state than expected. On Monday he blasted the previous administration ruled under Arroyo for misguided and corrupt policies that have near enough depleted governments funds.

"The country was misled and kept in the dark about the true conditions of our country," Aquino said in his first state of the nation address since assuming office last month. "As days go by, the massive scope of the problems we have inherited becomes much clearer."

In the first six months of this year former President Arroyo and her administration spent more than they earned pushing the budget deficit up to P196.7 billion ($4.2m) or 3.9 of gross domestic product, Aquino stated. He also said that his government was left with less than 6.5% of the annual budget for this year (total should be P1.54 Trillion or $33Billion). Suggesting money was spent on useless projects which went to the chosen few.

Aquino said 60 percent of calamity funds earmarked for rehabilitation of typhoon-stricken areas had already been spent although the rainy season had just begun.

Arroyo wasn’t at the speech in the Philippine congress as she was leaving for a trip to Hong Kong with her ailing husband. Her presidency lasted nine years which were a constant flutter of allegations of misruling, rampant corruption, scandals and speculation of links to political killings.

Aquino said he would sign this week an order creating a truth commission to investigate alleged wrongdoing committed under Arroyo. She has denied the accusations and said she was ready to face any probe.

Aquino himself was plagued with a family history but swung to a landslide victory due to his anti-corruption platform and Filipinos’ longing for moral and political renewal. The speech also offered promise of providing jobs, healthcare, schools and infrastructure. To help farmers and to attract more investors to the Philippines. The promises have often been heard in the Philippines from politicians but time will tell if its just a splash in the pan or the beginning of real change.