Economic Growth
By linotab
@linotab (9)
Philippines
June 4, 2007 7:26pm CST
I quite perplex in regards to the news that the Philippine Government have been broadcasting since the start of the election that the Philippine Economy is already on its way up towards development. To back their claim, they said the following:
1. The Peso is getting stronger against the US Dollar.
2. Stock Exchange have been getting records high since the 1990's.
3. A lot of new investors have came in the country.
However, living here in the Philippines is still the same compared from the past years, The cost of commodities have still remained high, gasoline prices are still going up, and a lot of unemployed can still be seen loitering around.
Are there immediate impact that a ordinary Filipino feel to prove that such development is happening in country? How can you reconcile the government's claim against the first hand experience of each ordinary Filipino in his course of daily living.
3 responses
@amanasan (26)
• Philippines
9 Jul 07
all the claims said are true and valid. i work with the financial industry and these are datas that we keep track on. our economy is bullish in the next 3 years, hopefully there will be no major setback locally and internationally. as far as prices is concerned, it is not only in the philippines that cost is high. try europe, or even US, prices are soaring. oil is not within our domestic capacity, we are affected by external cost of this industry. for employment, our country is number one in BPO. a lot of employement opportunities are around of all filipinos.
@rdurusan (624)
• Philippines
17 Jun 07
The administration spokespersons are not telling the truth about the true condition of our economy.They have mastered the art of lip service since day 1 in office.They say the peso is getting stronger against the dollar,its because the dollar is weakening and there is no effect in our economy.I doubt the records in the stock exchange,they can be manipulated by the trouble shooters of Malacanang.If there are really investors investing in our country,then they should create some jobs,but there is none,only jobs from call center,will call center boost our economy,of course not.What we need are factories,because it will create additional jobs,it will lessen the cost of say,shoes or clothing because it is made in our country.It can boost our economy because if it is world class quality we can export it,less dollar when we don't import.If the farmers and fisherman can produce more of the harvest,again less dollar because we don't have to import.To add more pain to our crippled economy those investors that Gloria is boasting are mere fly by night investors.After they have enough of the profit they wanted,in less than a year they will withdrew all the money they invested,together with the profit.That is the reality of the true condition of our economy.
@kawaii24 (520)
• Australia
5 Jun 07
I believe That our philippine economy is getting stronger and better. Our unemployment rate goes down from previous years (lots of my friend that havent finished their schooling yet already have a job) thanks for call center !!! :) I know that we cant really feel it yet but there is definitely an improvement compared before especially in the stock market. Before, am very nervous to invest however right now I can truthfully say that my confidence in the market is returning
