Manila, Oct. 9 -- The government's ongoing corruption probe, far from scaring investors, will ultimately strengthen the Philippine economy by restoring integrity, efficiency and public trust, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said Thursday.

Speaking at a press briefing in Malacanang, Go said the administration views the investigation into alleged anomalies in flood control projects as a necessary correction rather than a destabilizing episode.

"I believe the negativity is overblown," Go said.

"This investigation will be good for the country long-term because it will address and correct the wrong practices. The effect of this is that the budget will be more efficiently spent an...