2 Responses to “what is the status now of the Philippine economic growth ?”

1. By d00tchy on Feb 8, 2010 | Reply

   Ok ,the real story…

   the PI continues to be raped by multinational corporations especially in the mining industry. Real estate development, once a hot sector, was also dominated by the multi-Asian consortiums. (notice all the new condo highrisers in Manila and big fancy hotels on Boracay?

   The PI’s economic growth depends on her natural resources, not on the human resources. In the meantime the government allows all these companies to come in and take what they want, as long as they pay the gov’t a nice check to do so.

   No jobs are created for the Filipino, as you can see. So standard of living stays the same and even worsens, as things like rice and flour become more expensive in the marketplace, so the poverty cycle worsens.

2. By Economist (trying) on Feb 8, 2010 | Reply

   Currently, RP is experiencing double digit inflation. This was caused by the global economic slowdown, increased price of oil (before), shortage of rice, increased fares, etc. Many are inflationary, however, it is going down and is projected to go down to single digit in a couple more months.

   Right now the crisis in USA has not really affected the Philippines that bad but they have revised their projection to a lower growth target and may be revised again depending on the world economy and mainly USA and Europe economy as they are the major market of our exports.

   The Philippines is so far resilient to the crisis affecting its neighbor mainly because of its experience in the mid to late 90s when the Asian Contagion hit. Our banking sector’s exposure to the subprime is minimal which actually started this global crisis.

   However, it is imminent for the government to pump prime the economy to control inflation and avert any threats of recession. Expect a higher deficit due to infrastructure spending and pump priming activity. National debt may increase depending on how long this global crisis will stay.

   some industry is experiencing slow down but the slowdown in one sector is being compensated by other sector and by other factors.

   Let’s hope that the planned pump priming activities will really prevent Phils falling into an economic contraction.