GMA NET WORTH NOW P72-MILLI0N

Manila, May 29, 2003 By Marichu Villanueva, (Star) President Arroyo is now worth P72 million.

Since she took over the presidency in January 2001, Mrs. Arroyo has reported her net worth increased by P5.26 million to P72, 010,722.88.

The reported net worth of Mrs. Arroyo in the year 2001 was P66,784,940.36.

The figure was based on the annual statement of assets and liabilities (SAL) submitted by Mrs. Arroyo to the Office of the Ombudsman as required by law of all government officials and employees under Republic Act 6713.

The SAL contains the itemized declaration of total assets and liabilities and net worth, the latter derived from subtracting the total liabilities from total assets for the year.

In the joint declaration made by Mrs. Arroyo and her husband, lawyer Jose Miguel Arroyo, the couple said their total assets have reached P72,010,722.88, consisting of P55.7 million cash on hand and deposited in banks; jewelry valued at P3.2 million; appliances and furniture worth P2.05 million; P1.7 million worth of law books; vehicles valued at P6.875 million; P1.412 million of inherited properties and office equipment valued at P995,880.

Mrs. Arroyo reported the same amount of P3,537.837 in real estate properties recorded in their names.

The real estate properties (declared both in current fair market value, acquisition cost and improvements) consisted of a house and lot in Baguio City, acquired in 1977.

The declared properties also include a residential lot in Antipolo City, acquired in 1986; a commercial lot in Tayabas, Quezon, purchased in 1995; agricultural lots in San Rafael, Bulacan, purchased in 1995 and Nasugbu, Batangas bought in 1997.

On her liabilities, Mrs. Arroyo reported P3.5 million car loan for a Toyota Lexus. The First Couple reported the same amount of liability in their 2001 SAL and payment of car loan from the Export and Industry Bank.


Reported by: Sol Jose Vanzi

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