PH is now Asia's strongest-performing economy(?)

[Rosewillow]

economist ka rose di ba? mas alam mo tong topic na to kesa sa akin. tanong ko lang kung fair bang sa IMPORT at EXPORT mo lang kinukuha ang basehan mo ng kita ng bansa. Enlighten me.

Nahiya tuloy ako sa sinabi mo.

Anyway, Good question you got there. Kung mapapansin mo sa balita na naipost ko - natutuon lamang sa exports ang pinag-uusapan. Ibig sabihin, pinalalabas na sa pamamagitan ng (malakas daw na) exports, ang bansa natin ay lumalakas ang progress ng ekonomiya nang hindi tinitingnan yung kabilang side which is yung imports nga. Nawala ang essence ng Balance of Trade natin sa "good news" na yan na ibig lang sabihin, hindi reliable ang disclosure na yun. Hoax sa madling salita.

Balik tayo sa tanong mo. Nangangamba lang ako na baka di ako maintindihan pag ginamit ko ang anumang termino ng ekonomiks dito. I'm not an expert. But I can understand and interpret the way and how the things are in our economy. Anyway, subukan ko. Normally kasi, GDP ang ginagamit na basehan para malaman kung progressive nga ang ekonomiya ng bansa o hindi. Pero may nagsasabi na hindi accurate ito dahil bias. Bias in the sense na di nalalaman ang benefits dito para sa sosyodad. More on costs sya. More on money sya. Pag may calamity, crime, war, pollution or any negative costs, ekonomiya ito ng GDP. May panapat dyan, ito yung holistic na tinatawag na GPI o Genuine Progress Indicator. Dito malalaman ang katotohanan - ng ekonomiya.

Halimbawa, katulad nung balita ngayon na ang Pilipinas daw ay getting stronger daw ang economy. Pero nasaan ang katotohan dun? Ipag palagay natin na kumikita nga ang Pilipinas sa OFW remittances, may iba pang sources na kagaya ng tax revenue collection, etc. Palagay mo sapat na yun na basehan para sabihin na maunlad na ang Pinas dahil dyan? Hindi. Kasi bukod sa utang na binabayaran, may kalamidad buwan-buwan na nangyayari sa aling mang parte ng bansa, mataas ang crime rate, tumataas ang pamilyang nasisira, patutloy na pag lobo ng populasyon at di pa kasali dito ang bureaucracy o corruption. So, yan ang ibig sabihin ng GPI. Mas maraming nailalabas na pera ang gobyerno sa mga gastusin na yan para lang sa rehabilitations and all that. GDP as an economic indicator does not suffice to indicate the real status of any country's economy as far as progress is concerned.

Ang mga nabanggit ko ay isa lang sa mga halimbawa kung papano masusukat ang tunay na ekonomiya. Kulang ang isang buwan kung iisa-isahin ko pa ang mga yun dito. Work mode muna.

[suave]

^^ayun naman pala... in fairness eh di nga ako familiar dyan masyado sa GPI na yan ha...
salamat sa time.

muah muah tsup tsup!

[Rosewillow]

Thats why i ask if cnn, bloomberg.... and other foreign media is for sale???? lahat nalang ba na "mabuti" na papuri sa ating bansa merong katagang pera?

again my question nabayaran ba ang mga foreign media, if so then this organizations reporting is all crap if thats the case
if hindi sila nabayaran, ano ba purpose nila to write such articles?
and the most kadudaduda, if all the news about the economy of the philippines "going strong" bakit yung mga traders or economic analysis in other country has no reaction, ganun ba sila katang.a that they will swallow hook line and sinker

your arguement is illogical, irrational and makes no sense in normal conditions unless manipulated ni pnoy ang lahat ng tao at news organization, which is impossible

LOL Natawa naman ako sa reaksyon mo. Relax lang. Take it easy.

Tanong ko lang. Naintindihan mo ba yung balita? O pamagat lang ang binasa mo. Worse, baka nasa loob ka lang ng kwarto mo at di mo alam kung ano ang totoong nangyayari sa paligid mo. Ramdam mo ba ang biglang pag taas ng ekonomiya? If so, fine. Congrats!

As usual, may I refer to reliable source kuno. Eh, papuntahin mo kaya yang mga reliable mong source na mga foreign media and all that dito sa Pinas at palusungin mo sa baha, ewan ko lang kung lulusong ang mga yan. At mag cover sila dito ng mga nangyayari para alam nila ang totoo at hindi. Unless money talks.

[samuraiX]

LOL Natawa naman ako sa reaksyon mo. Relax lang. Take it easy.

Tanong ko lang. Naintindihan mo ba yung balita? O pamagat lang ang binasa mo. Worse, baka nasa loob ka lang ng kwarto mo at di mo alam kung ano ang totoong nangyayari sa paligid mo. Ramdam mo ba ang biglang pag taas ng ekonomiya? If so, fine. Congrats!

As usual, may I refer to reliable source kuno. Eh, papuntahin mo kaya yang mga reliable mong source na mga foreign media and all that dito sa Pinas at palusungin mo sa baha, ewan ko lang kung lulusong ang mga yan. At mag cover sila dito ng mga nangyayari para alam nila ang totoo at hindi. Unless money talks.

thats why im asking you, who to trust, the foreign media or YOU????

ano kaya ang kinalaman ng baha sa economy??? kaya pala mahirap ang china dahil maraming baha sa provinces nila

pati sa europe kaya pala merong crisis dun kasi daming flash flood kapag merong typhoon dun

no wait i know who can REALLY bring a strong economy to our country, its BINAY maybe HIS pocket will have a strong economy the same thing he did when he and his family govern makati whith their pending cases in sandiganbayan

[Rosewillow]

^^And your point is?

Hmm. I think there's no sense anymore in wasting my time on someone who does not even have a gist on what the issue at hand. However, the entertainment that she gave to me was priceless.

[bishop]

@Sam,

Relative kasi ang Economy.

Pag sinabi mo may "10% rate of growth", kelangan may "basis" yan.

Halimbawa, may P10,000 ka sa banko. Pag binigyan ka ng 10% growth that would be P1,000.

Pero si Juan dela Cruz, may P500,000 sa banko. Tapos binigyan sya ng 5% growth.

Sino sa inyo ang mas malaki ang kita? yun may 10% or yun may 5%?

[samuraiX]

@Sam,

Relative kasi ang Economy.

Pag sinabi mo may "10% rate of growth", kelangan may "basis" yan.

Halimbawa, may P10,000 ka sa banko. Pag binigyan ka ng 10% growth that would be P1,000.

Pero si Juan dela Cruz, may P500,000 sa banko. Tapos binigyan sya ng 5% growth.

Sino sa inyo ang mas malaki ang kita? yun may 10% or yun may 5%?

i know but i also know kung ano ang ponto ni rose, i know where she is going with this, if you notice her tone, superficial lang daw ang article, meaning some are true some are false or to the extent propaganda, maka binay kasi to, makita nya yung mali sa iba pero kang binay hindi

BTW have you heard our first lady governor gwen garcia has a hold departure order because of her cases sa panghulabot sa kaban sa goberno

[bishop]

i know but i also know kung ano ang ponto ni rose, i know where she is going with this, if you notice her tone, superficial lang daw ang article, meaning some are true some are false or to the extent propaganda, maka binay kasi to, makita nya yung mali sa iba pero kang binay hindi

Nakow naman. Propaganda nanaman??

Mahirap maging "propaganda" 'to, Sam.

International agency ang nag susukat ng ekonomya. Balikan nyo yun source ng article.

Pag propaganda yon, eh, ibig sabihin maka sabwat ang sino man pinoy na mambabatas na yan sa international agency na to.

[Raigoki]

It's still a good news.

1. If the news is true, then our current government is doing a good job.
2. If the news is half-true, then this kinds of news can at least show some good points in our country.
3. If this is fabricated, then it means that International media can be bought and can be used as a tool to give Philippines some "Media Face lift" and might encourage investors.

Yun nga lang, puro kalamidad ang nakikita ko ngayon sa news... tsk! tsk!

[Androniko]

wala nang mapuring bansa at kahulihan na ang Pilipinas.alangang purihin ang Tsina? nanghihimasok na nga sa ibang teritoryo! Malay natin magsilipat ang maraming investors dito sa Pilipinas!

[frango]

This CNN article might add some meat into our discussion about the PHL economy:

What is driving the Philippines' surprisingly strong growth?
By Vanessa Ko, for CNN
July 12, 2012

Hong Kong (CNN) -- As emerging markets slump and the euro zone continues to struggle, the Philippine economy made a surprising surge in the first part of this year.

The slowdowns in BRIC countries, China in particular, are feared to drag down the global economy. But in the first quarter of 2012, the Philippine economy grew 6.4%, the fastest since 2010 and already far outpacing the International Monetary Fund's forecast growth of 3.5% for this year.

The growth surge was driven in part by a recovery of electronics exports after a decline in demand last year, while analysts say the economy was buoyed by strong domestic consumption.

It is the money sent home to the Philippines by its overseas workers, known as remittances, and the rise of outsourced call centers that serve as the long-term stabilizers relatively unhindered by a sagging global economy, according to analysts.

"About 70% of our economy is from consumption, so remittance is the key fuel behind that," said Haj Narvaez, Manila-based head of research for the Philippines at Credit-Suisse. "It drives consumption in malls. Even on the property side, the government estimates a third of remittances go into home purchases and rentals of properties."

It is estimated that 11% of the population of 92 million work overseas. Remittances account for about 10% of the country's GDP, which totaled $225 billion in 2011.

Because Filipinos head to a wide variety of countries to work, the diversity protects them from the full impact of regional economic troubles. The Middle East has the largest portion of the Philippines' overseas labor force, with 61% working there. Asia is the next highest, with 27%, followed by the 6% in Europe.

Moreover, these migrants often work as domestic workers, nurses or skilled technicians, types of jobs that are believed to be less vulnerable during an economic slowdown.

"You have an aging population in the West, and you have a young population here in the Philippines that is waiting to do jobs that some people in the West aren't willing to do," Narvaez said.

Another sector that has helped drive consumption is the call center industry, which has overtaken India's as the largest over the past decade. These jobs are considered well - paid -- enough for workers to afford, after several years' employment, down payments on condominiums in Manila's booming property market, Narvaez said.

These jobs could leave the country structurally well positioned going into a slowdown; as wealthier economies seek to cut costs, they tend to increase outsourcing to low-cost, English-speaking markets like the Philippines.

Singapore-based Edward Teather, the senior economist for ASEAN at UBS, said the Philippines has experienced "a virtuous circle of improved stability" with more investments, lower inflation, currency valuations going up and interest rates coming down.

Other factors that have aided in the country's growth early this year are the transfer of operations to the Philippines from Thailand by flood-disrupted businesses, said Teather, as well as improved electronics exports.

While most analysts are optimistic, they do not expect growth for the year to be maintained at the first quarter's level -- Bloomberg's compiled predictions for GDP growth in 2012 averages at 4.2%.

Standard & Poor's upgraded the country's debt rating last Wednesday to BB+, one notch below investment grade.

Last Friday, the Philippines Stock Exchange Index hit an all-time high. The peso was the best performer among the 11 major Asian currencies, according to Bloomberg, up 5% against the dollar this year.

Cuts in interest rates and the government's plans to spend more aggressively have boosted investor confidence in the Philippines, which has a third of its population living below the poverty line of $1.25 per day.

Economists also credit President Benigno Aquino for his efforts to push back corruption and undertake infrastructure projects.

"You can see evidence of construction activity in Manila," Teather said. "You can see cranes on the horizon. You can see new roads have been put in place."

Most people do not feel the improvements in the economy. It seems like prices are higher than ever. Isn't it logical that if the value of the peso increases prices of most things should inversely decline? But that is not happening. Prices of gasoline, LPG, food, home rentals, transport fares, transport tollway fees, clothes, services, even processing fees of govt permits and documents etc are on the rise. We, for example, when we are in Manila, spend more now than during the previous administration. No offense to the current prez. So who is benefitting from this so-called "good economy" as bad as the unemployment rate is (how many million Filipinos are unemployed?). Not us...only the business sector, the elite and the CEOs are feeling it? Before I read the article above I thought the economic improvements are caused by more factories being built. I guess I was wrong. I wouldn't mind if the exchange rate of the peso to the dollar comes down to below P40 for each dollar if there is a corresponding general lowering of prices of goods and services. Pero that's not happening. Kawawa naman si Juan.

[Raigoki]

ang ayoko lang sa pag lakas ng ekonomiya natin e ang pagbaba ng palitan ng dolyar. huhuhu! last year, 12php - 1QR ang palitan. ngayon 11.2 - 1QR na lang. huhuhu! pero sana naman e bumababa na yung presyo ng bilihin sa pinas.

[Chiffon]

Agree ako na lumalakas na ang ekonomiya ng bansa natin!

Ngayon lang buwan na ito ay nagkaron na ako sa wakas ng allowance na halagang sobrang kapakipakinabang. P5.33 pesos a day! Dahil daw ako ay senior nurse na kaya nabigyan ng napakagandang prebilehiyong ito na wala ang mga junior nurses ko!

May COLA na din kami na P20/day! Sa mga dagdag na tulong na ito, Makakamit na naming mga healthcare workers ang pangarap sa sariling bayan. Di na namin kailangan umalis ng bansa! Sa dagdag na P25.33 na ito, mabubuo na namin ang mga plano namin sa buhay. Desenteng bahay, mapag aral ng maigi ang mga anak, mabigyan sila ng sapat at masusustansiyang pagkain!

Tingin ko ang sahod ko ay katumbas na ng buhay ng tao. Sa halagang P426/day + P25.33 sa tingin ko sapat na ito sa buhay na aming hinahawakan. Sadiyang ganito lang siguro ang halaga ng buhay ng isang Pilipino. Tanggapin na lamang na mas mahal ang presyo ng buhay ng Arabo, o ng Amerikano o ng hapon kaysa sa ating mga Pinoy.

O baka totoo ito dahil puro brand new na ang sasakyan sa kalsada. Nagkalat ang mga bagong SUV, Sedan, sports cars. Lahat ng tao naka I-PAD na, S3 Iphone 4! 4S at ikinabwibwiset pa nila na wala pang Iphone 5 dito! Nako ang yaman na ng pinoy! Makita mo sa hospital, walang pambili ng gamot ng anak, walang pambayad sa kwarto pero pag tawag sa kamag anak naka S3!

Balita ko, mag eexport na din daw tayo ng bigas natin! Wow! sobrang lumalakas na ang ekonomiya natin! Ibebenta na natin sa baniyaga ang bigas natin, samantalang milyong pinoy na naninirahan sa sariling bansa eh di man lang kayang bumili kahit kalahating kilo ng pinaka pipichuging klase ng bigas sa isang araw. Ganito na ba kadami ang bigas natin? Sa sobrang dami ay hindi bumababa ang presyo nito noong ma sky-rocket ang presyo nito sa termino ni GMA? Napaka lakas na ng ekonomiya natin! Sobrang lakas malapit na siguro tayo maging 1st world tulad ng japan.

Magbunyi!! Magbunyi!!!

[frango]

Chiffon:

Well, in that case, let me be the first to congratulate you! WoW! That's like winning the lotto.

Yung karpintero namin, we pay him P500 a day! Kailangan pala bawasan ko suweldo nya. I'm paying him too much. Siya nga di nakatapos ng high school eh.

[Chiffon]

actually talo pa ako ng labandera namin nun. tax free pa yung sweldo niya, libre lunch pa =P

Well I'm only speaking for us health workers.

Pero tingin ko naman eh compared 10-15yrs ago? we're better of now.......a bit. Would you imagine a Filipino affording some 30grand phone? kahit hulugan eh malaki ito and di ito kakagatin ng pinoy 10ysr ago.

Better, but not much.