Philippine Economy BY: JESSA CABADING

We are part of the society, therefore, we should be aware of what is happening around us.

what is an economy? Do you ever wonder what it is? An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location

The Philippines is considered as a newly industrialized country, which has been transitioning from one based on agriculture to one based more on services and manufacturing. In 2014, the GDP by Purchasing power parity was estimated to be at $692.223 billion.

Household consumption accelerated in the first half on 2015, driven by higher employment, low inflation, and rising remittances. Private investment also rose, but government spending was sluggish early in the year before rebounding. Net external demand weighed on Gross Domestic Product growth, which slowed to 5.3%.

The rebound in government spending is expected to spur growth through the rest of this year and in 2016. In July, growth in public expenditure excluding interest accelerated to 31% year on year. Election-related spending will also support domestic demand through May 2016, when elections will be held.

Manila, Philippines the international monetary fund (IMF) said the Philippine economy likely picked up speed in the second quarter of the year after slowing down in the first quarter on weak global demand and lack of government spending. IMF resident representative Shanakaa Jayanath Peiris said the country’s gross domestic product grew slightly faster in the second quarter due to improved spending by the Aquino administration.

Price hike in products like the rice and gas takes a lot of toll to the citizens . the cause of price increase laid a burden to the people especially to those who are living under the poverty line.

With good political leaders and good governance our country will surely be progressive. The government and the people should help each other for the betterment of our country. We need to work hand in hand to achieve our goal which is to have a progressive country today and for the future generations. corruption should be stop and should not be the reason for us to be left out. other country’s can do it why can’t we?

http://www.adb.org/countries/philippines/economy

http://www.heritage.org/index/country/philippines

http://www.philstar.com/headlines/2015/06/16/1466444/gas-diesel-prices-anew

BY:jessa cabading

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20 thoughts on “Philippine Economy BY: JESSA CABADING

  1. Even if the government is compromising of both good and bad, I still agree that one of the major solutions to a successful nation is when the government is united with the people. We are ruled through democracy meaning the government is there for the people. In response, the people should respect the authority by following and trusting them if it is right and proper.

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  2. “With good political leaders and good governance our country will surely be progressive.”
    Yes I agree with what the writer mentioned. Our choice of leaders matters. To check the background of our candidates is a thing that we must do. We must know everything about him/her so we won’t be repeating the same mistake of voting incompetent leaders.
    -Gwynneth Muriel Guarin

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  3. Indeed, with good political leaders and good governance our country will surely be progressive. Cooperation between the government and it’s people will be necessary if a country wishes to progress. Although there will always be evil in both sides, we must do what we can despite this challenge. Someday in the near future, our country will progress and will change for the better

    – Alacrito, Ian

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  4. I agree that good political leaders and good governance can help our country be more progressive. Having a good a leader that is capable and open to the needs and opinions if the people is one thing that would give access to achieving unity amongst the people of the nation and shall eventually result to a progressive economy. Tho progression would rather take ample time, with untity and respect for each others positions in the society we will surely reach our ambition of a great economy.

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  5. I agree that good political leaders and good governance will help our country progress. The people and its government should work hand in hand to improve our country. Our country cannot succeed without the other. It is our job to vote for good leaders and it is their job to continue being good leaders.

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  6. I highly agree that the Philippines need good political leaders, after all that we have been through and all these problems we have been facing? The unending corruption, the increase in drug users and dealers in the country, the over population? Of course we need skilled and leaders that is why we should be alert and know what the motives are of the political leaders we are routing for.
    – Mary Christine Saldon

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  7. An intelligent and wise leader is what we need in our country. Someone who makes right decisions for his people and for the country. A selfless person who dedicates himself for the good of his motherland. Someone strives hard for goals that society deems fitting, who acts not just merely words. I think with that kind of characteristic, everything is possible. Maybe our country today will be so progressive.

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  8. With good political leaders we will be a clear way to a better path but I don’t believe there are good politicians because with every “good politicians” there will always be a hidden agenda in the proects they do.

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  9. We need wise leaders who put this country before themselves. We need honest leaders. We need leaders who have grit, who are passionate and who do things for the benefit of all, if not most. The Philippines needs to rise once again.

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  10. A leader, with a dignified stance on what he believes will help our country progress, is what this country and its people need. In my opinion, most of the entirety of our government lacks this capability, allowing the people or themselves overrule. This results in the failure of the Philippines in its endeavor of becoming a developed nation.

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  11. Politicians have a great role to play in the economy. Projects that further focus on creating employment, developing labor skills, supporting education reforms, developing infrastructure, and improving the investment climate should be made.

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  12. one country, one unit, one peaceful world. A dignified leader, patriotic citizens and stable economic growth. Now that is how I see an perfectly carved country that could receive recognition to the people not only from the country itself but the world. Just like the old “Economic-Tiger” Philippines.

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  13. Cooperation, good governance, and the right political leaders are just some factors that will help a country be progressive. We the youth should do our part if we want our children and our children’s s children to live in a country that is just and progressive.

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  14. We don’t just need good leaders and good governance, we need good followers too. Because a good leader with stubborn followers are a pain in the ass. Nothing will ever happen if the followers themselves do not take their role in the society seriously. In order to achieve a progressive country, we need to have these two in a good state.

    -Naquila, Rosary Faith P.

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