On this day, 27 years ago, June 30, 1998 (May 7, 1998, the lunar calendar), Estrada became President of the Philippines. On June 30, 1998, Joseph Estrada, the new President of the Philippines, was sworn in and announced the formation of a new cabinet. Estrada, who was turned into a movie star, was elected the 13th President of the Philippines in the general election held on May 11 by defeating his opponent with an unprecedented high vote rate. In his inaugural speech, Estrada said that he would make restoring rapid economic growth, vigorously developing agriculture, eradicating poverty, eradicating corruption and fighting crime the central tasks of the new government. During President Ramos's six years in office, the Philippine economy has made great progress, from negative growth to a high growth rate of more than 5% for four consecutive years. However, the financial crisis that occurred in Southeast Asia in 1997 caused a huge setback to the Fiji economy. The economic growth rate was significantly reduced and it even faced the danger of recession. Many people worry that Estrada, who turned up as a movie star, has no experience in solving economic problems and will lack countermeasures in the face of severe challenges. Estrada was mentally and organizationally prepared for this. He said with confidence that he would rely on the power of a stable think tank composed of 30 economic experts to overcome the crisis. These experts include candidates from leftist parties and capable bankers. He said that the new government will try to stabilize the national economy hit by the financial crisis as soon as possible and restore rapid economic growth. Estrada said that the new government will focus on lowering interest rates, controlling fiscal deficits, and increasing foreign exchange reserves, and will continue to implement the Ramos government's macroeconomic policies such as economic and trade liberalization, structural reform and privatization. One of the main reasons why Estrada has so many supporters is that many Filipinos regard him as a civilian president. At present, the national poverty rate in the Philippines is as high as 34%, and the number of poor people reaches more than 20 million, mainly concentrated in rural areas. Estrada believes that vigorously developing agricultural production is the only way to get poor farmers out of poverty and become rich, and it is also the biggest challenge for the new government to revitalize the economy. He promised to make poverty eradication a priority for the government. In addition, combating crime and eradicating official corruption are also key priorities emphasized by the Estrada government. Over the years, although Philippine society has stabilized, various criminal activities are still rampant. Drug trafficking, kidnappings and shootings are common. At least 45 people died in violence during the just-concluded election. In order to demonstrate the new government's determination to fight crime, Estrada decided to make maintaining social security one of the government's top priorities, and decided to personally serve as Minister of Interior and Local Government, ensuring that the country's major kidnapping, drug trafficking and terrorist groups will be eliminated within six months. The 61-year-old new president also said when he took office that he had ruthlessly bid farewell to bad habits such as alcoholism and gambling forever, and even quit smoking a few weeks ago. When running for president, Estrada once told a friend about some concerns that he lacked the ability to govern the country: "When I ran for mayor, I was laughed at by others; when I ran for the Senate, many people also laughed at me. When I was vice president, I was still laughed at. Now that I am running for president, I hope they will continue to laugh at me because I will have the last laugh. The movie star, who has played many heroes on the screen since the 1960s and is deeply loved by the audience, said he would perform "the last and most brilliant performance."