"The projected 2013 GDP growth of around 7–7.5 percent will be better than in 2012.."
If you have read the very promising article I shared a few hours ago, you then would probably remember this line I quoted from Cesar E. A. Virata, president and chairman of C. Virata & Associates, incorporated management consultants, and former Prime Minister of the Philippines; a line that speaks about a promising growth in GDP the Philippines has yet to experience this year.
The first part of the article hit me, it talked about the factors contributing to an expected higher GDP...
"sustained consumption; increased growth of the private sector in real estate development and construction supported by low interest rates; a better business outlook for infrastructure investment and additional electric generating capacities; and increased government repair, maintenance and improvements to existing roadways and bridges" - the precise words used by the author. This made me somehow excited and interested (believe I actually was interested) to hear how the Philippines' economy is taking this big leap, if I may say, to a higher GDP.
"sustained consumption; increased growth of the private sector in real estate development and construction supported by low interest rates; a better business outlook for infrastructure investment and additional electric generating capacities; and increased government repair, maintenance and improvements to existing roadways and bridges" - the precise words used by the author. This made me somehow excited and interested (believe I actually was interested) to hear how the Philippines' economy is taking this big leap, if I may say, to a higher GDP.
I learned that GDP, though not perfect, is a measure of a country's standard of living. And so upon knowing that this year is said to be a year for significant GDP growth, I got thrilled for our country. A higher GDP, for me (as I have understood), reciprocates to the Philippines being a better site for private and foreign investment, the Philippines having a better education, better roads and high ways, better Philippine Stock Exchange index... everything better - indeed a good news. Being a Filipino at heart, I have always believed in the capacity of our countrymen, especially in the capacity of our government, to create a better economy.
But then again, any progress would always have its downside, a hindrance is how I put it... The article I shared still talked about poverty. Indeed, how could one not talk about poverty in the Philippines? It is only this never-ending issue that seems to have no clear solution.
"The main domestic challenge that faces the Philippines today is how to increase employment so as to reduce poverty — especially in rural areas." says Cesar E. A. Virata.
I know the government will really have a hard time addressing such a heavy issue, and me being yet a mere student couldn't even think of the right words regarding this topic, but if you let me, I would just like to put it this way... The government knows what it is doing, and in my mind, somehow, someday, someone will ease the pain poverty is causing.
"The main domestic challenge that faces the Philippines today is how to increase employment so as to reduce poverty — especially in rural areas." says Cesar E. A. Virata.
I know the government will really have a hard time addressing such a heavy issue, and me being yet a mere student couldn't even think of the right words regarding this topic, but if you let me, I would just like to put it this way... The government knows what it is doing, and in my mind, somehow, someday, someone will ease the pain poverty is causing.
If these forecasts would be true, if GDP will really increase significantly, then it would make a mere student taking up economics subjects like me, ecstatic. I am excited for our economy, just imagine all the possible great things that would happen if these forecasts were true. Well as for me, I can't wait to see how things will turnout (am hoping for the best). Au revoir.
~Xoxo, Economics blog homework
~Xoxo, Economics blog homework
