Arroyo declares P79M net worth

President Gloria Macapagal Arroyo's net worth reached more than P79 million in 2005, based on the statement of assets, liabilities and net worth (SALN) she submitted to the Office of the Ombudsman. The Chief Executive’s net worth, valued at exactly P79,284,608.64, included a house and lot in Baguio, a residential lot in Antipolo, a commercial lot in Tayabas, Quezon, agricultural properties in San Rafael, Bulacan and Nasugbu, Batangas, and an undeveloped lot acquired last year in Coron, Palawan. The President’s "personal and other properties" consisted of "cash on hand" and "cash in banks" amounting to P55,483, 015.64; jewelry, P3.4 million; appliances and furniture, P2.05 million; books, P1.7 million; cars, P6,875,476; office equipment, P995,800; inherited properties in process of transfer, P1,412,480; and notes receivable, P2.5 million. Mrs. Arroyo's liabilities, in the form of notes payable, is P1.5 million. The submission of SALNs is required under Republic Act 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees of 1989. The President's 2005 net worth is over P12 million more than her net worth in 2001, the year she assumed office, when she was worth P66,747,103. Mrs. Arroyo’s net worth in 2002 was P72,048,559.88, which rose to P75,697,687.45 the following year.-GMANews.TV